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Features
Apartments and Shops.
Listing Agent
Andrea Adami
082 657 0156
Contact Us
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Price: ZAR7.45 Million - currency converter >>>
Size:
Ref Number: CEC2089
Location: Humansdorp :: Eastern Cape
A good commercial opportunity in a thriving Eastern Cape town! This 'going concern' Retail centre comprises of 15 shops and 12 apartments which include bachelor, one and two bedroom flats. The approximate areas are as follows: Shops 965m˛
Undercover parking 75m˛
Storerooms 54m˛
Washing lines 132m˛
Courtyard 1100m˛
Toilet areas 91m˛
Drive ways 120m˛
Flat areas 1200m˛
Passage 30m˛
Stairway 12m˛
Entrance 3 m˛ All the shops and flats are occupied.
The tenants, both retail and residential have all been in place for many years, and we foresee no change in that arrangement.
The total rental income per month is R 80 936.5 (incl of VAT).
Net income after expenses is +/- R 72 000 incl of Vat.
The actual expenses will be determined in a mutual agreement. Currently only the direct expenses (municipal rates and taxes/maintenance) are paid from the income generated. The other expenses (indirect i.e lawyers/auditors and preferential i.e staff) are paid for by the current entity owning the building. The replacement value of the building is calculated at ZAR 14 000 000 (available from owners on request) Please be aware that African Showcase can in no way verify the figures as supplied to us by the seller. It is strongly advised that any potential purchaser undertake a period of due diligence under the guidance of their accountant in order to substantiate the financial information. Please contact us for further information on this and other commercial opportunities for sale.
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