Prime Retail Space With Shoprite As The Tenant

Bidding opens at R18,000,000

ONLINE AUCTION

Bidding Start Time: Wednesday 24 April 2024 @ 09:00

Bidding End Time: Thursday 25 April 2024 @ 14:30

Registration is essential by Monday 22 April 2024.

Pre-Auction Offers may be considered. Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

This prime retail property is situated in the hub of sought-after Paarl and that’s why Shoprite has chosen this location to have one of its stores. Situated along the busy Klein Drakenstein Road, ensuring high visibility and foot traffic makes this the ideal location for Shoprite to choose.

DON'T MISS OUT ON THIS GREAT TENANTED AAA INVESTMENT.

• 2600m² Of spacious retail area    
• Current tenant is Shoprite with a lease in place till 2028 with renewal.
• Rental income - R169,418.00 per month excluding vat
• Shoprite has been here since 2004
• Electricity is in Shoprite's name and for their account
• Sellers pay rates, water & insurance - R18,030.00
• Vat entity - can zero rate the transaction.
• Ample parking for shoppers
• Easy access from Main Road
• Surrounded by the vibrance of mixed commercial and residential
• Well-maintained facilities with modern amenities to support the business operations
• Escalation is linked to CPI, minimum 6%

DETAILS:

• Erf no:  6945, Paarl
• Erf size:  2 608m²
• Rates:  ±R10,030.00 per month
• Zoning:  TBC

Web Ref:  707932

VAT Applicable

PAYMENT TERMS:

2.5% Deposit & 10% Auctioneers Fee (excl. VAT on fee), payable on the fall of the hammer by means of EFT only.  Balance payable on Transfer.

Josh Raisun | 078 888 9534 | 021 425 8822 | [email protected]

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: [email protected]