Shoprite anchor tenanted retail centre offers a prime investment opportunity

Posted On Wednesday, 20 July 2011 02:00 Published by eProp Commercial Property News
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A Shoprite anchor tenanted retail centre in Kwanobuhle, Port Elizabeth, will be brought to auction by Auction Alliance during next months Commercial Multiple auction, to be held on August 25 at the Hilton Hotel, Sandton

Property-Housing-Residentialhe property forms part of an urgent sale.

Comments Elias Tzouvanni of Auction Alliance, “With the retail sector currently the primary driver of the commercial property sector, demand for well-tenanted retail properties has been fierce. This centre, with its selection of national tenants, is a prime example of the retail properties that are currently so sought after amongst investors”

The property is extends over an ERF size of 4.1 ha and is situated on Matanzima Road, within the established township of Kwanobuhle. Matanzima Road can be accessed via the R334, which offers direct access to the N2 Freeway.

The multi-tenanted centre features a variety of tenants including a number of national tenants such as KFC, Lewis, Cashbuild, Hungry Lion, Vodacom Express, JD Group, Pep, The Post Office and Shoprite.  Many of the tenants have long leases in place, and Shoprite, KFC and Cashbuild have 10 year leases, with options to renew.

The centre extends over a GBA of 18,500m², and produces a gross monthly income of R1, 024,216. The centre features ample parking in the form of more than 450 parking bays.

“Due to centres of this caliber being extremely scarce, this high value, premium asset offers investors with an excellent opportunity, and must be sold on the fall of the hammer”, adds Tzouvanni.

The auction takes place on August 25 at 12pm at the Hilton Hotel, 138 Rivonia Road Sandton

Last modified on Wednesday, 11 June 2014 09:29

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