Bult Boulevard - Potchefstroom

Ref # P00005775
R31,800,000
Property Details
17 Steve Biko Street And Albert Luthuli Drive
1,880m²
4,323m²

Bult Boulevard - Potchefstroom - For Sale

Property Location:

The property is located in Die Bult, Potchefstroom. Close to North-West University, Die Bult is a popular suburb for students.

Property Details:

The property is a Retail / Shopping Centre and it is graded as "Local Convenient Centre"

The erf size is 4,323.00 m2

The building size is 1,880.00 m2

There is a Shell filling station adjacent to the shopping centre but its NOT included in the Sale & does not belong to the mall owner.

Development has the following number of parking bays:

Open Parkings - 60

Covered Parking - 6

The power available on the property is Council power via Pre-Paid Meters for the tenants as well as a 100 KVA generator & grid-tied direct solar system. Solar power is sold to the tenant.

Zoning:

The property is Zoned Business 3 & is Zoned, Serviced and Proclaimed

Tenants:

Building 2

Music Café - 490m2 - 10 yrs expire 2027 (renewal lease in progress for another 10 years)

Building 3

Amarex Couriers 165m2 - 5yrs expire 2027

Music and More 168m2 - 4 yrs expire 12/2025

3% estate agents 49m2 - 3+1yrs expire 12/2025

Building 4

Pivot Dance School 112m2 - 3 year expire 2027

RR Insurance 39.4m2 1 + 1 yrs expire 12/2025

Maroccon Barber Shop 81.4m2 - 3 year expire 2026

Daisy North West 118.5m2 - 3yrs Expire 2026

Uno Vape Shop 81.4m2 – 3yrs Expire 2026

Building 5

Plumb Link 324.5m2 - 6 yrs expire 2026 (This is their flagship store so will definitely renew lease)

The Music and More shop can be divided in half - So opportunity for another tenant. Currently paying for half the space but using full space. - An additional 120K per annum income.

Financial Details:

Income -

Rental Income R 269 686.00

Solar Income R 43 478.26

Total Monthy Income R 324 110.42 (Excl)

Expenses -

Rates R 18 325.34 (inlciding common water and sewer)

Insurance R 5 826.00

Cleaning Material R 1 200

Cleaing Lady R 4 000

Local Neigbourhood security R 1 200

Waste paper Collection R 1 200

Notes on expenses:

Tenant Electricity on pre-paid meters - Power is sold via tokenns - Solar power is fed back to tenants, inlcuded in the Income above

Tenant Water for own accounts

For Sale:

The property is sold at a 10.5 % yield which gives an asking price of R 31.8m - Vat Excluded

P00005775

Property Features
Property Type
Retail
Covered Parking
6
Floor Size
1,880m²
Land Size
4,323m²
Costs and Terms
Rates & Taxes
±R18,400
Levy
±R20,000
Share this Property
Make an enquiry
Interested in this property? Please fill in your details below, and we will contact you as soon as possible.
By clicking on "submit" you agree to our privacy policy.