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Annual turnover

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  • Mandate: 33177
  • Added: 15 Nov 2021
  • AFS
  • 277

Industrial Building,

Gauteng, Johannesburg
277
Mandate 33177
Added 15 Nov 2021
R 11,000,000* ZAR
Stock: R 0
Assets: R 14,000,000
R 49,366 ZAR
Andre Botha
(PRINCIPAL)
Aldes Pro
Gauteng
Summary

12 Unit Industrial Building, 10 currently tenanted with leases running into 2023 and a 10% escalation annually. Seller willing to look at reasonable offers.

Industrial Building,
SELLING PRICE AFS
R 11,000,000* ZAR
Stock: R0
Assets: R14,000,000
R 49,366 ZAR
Summary

12 Unit Industrial Building, 10 currently tenanted with leases running into 2023 and a 10% escalation annually. Seller willing to look at reasonable offers.

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How long has the business been established?
Fifteen Years

How long has the owner had the business?
Fifteen Years

Fully describe this property and its income earning activities.
The Building consists of 12 units, 10 units being just over 380 sqm, with 2 of the units being 262 sqm in size

What is the approximate age of the buildings?
15 Years

What is the zoning of the property and what can be developed thereon?
Industrial use

Are there building plans available?
Yes they are available

What is the erf size and the size of the buildings?
5722 Square meters

How does the business operate on a daily basis?
All 12 units are currently 9 are tenanted, each with a two year lease period.

How are the clients attracted to the business?
The Building is situated in a neat and clean Industial area on the West Rand, with easy access to main roads.

Is a property valuation available?
Insured Value only

Is the property being let by a letting agency?
Letting is being done by a Family member of the owner.

Is a copy of all the lease agreements on the property available?
Yes

Is the business VAT Registered?
Yes

What VAT documentation is on file?
All are up to date and on file.

Are there up-to-date Management Accounts available?
Basic information is currently available such as Rent roll etc.

What Balance Sheet and Income Statements are available?
Awaiting February 2019 AFS

What is the monthly rates and taxes payable to local authority?
Rates and Taxes of R340k per annum.

What rental deposit has been secured from the tenants?
One Month Rental

What is the total staff complement?
There are three individuals drawing a salary from the business, one being the owner, and the other two for Accounts/ Admin and Maintenance.

How involved is the Owner in running the business?
Not at all.

When does the current lease end?
Some In January/ February 2020 and other in 2021.

Is there an option of renewal & what period?
Yes

What is the annual escalation %?
10%

What is the square meters of the business?
10 Of the units are just over 380 sqm and 2 are 262 sqm

Who is the Owner/Landlord?
Privately owned

Is a copy of the lease available?
Yes

What lease deposit and/or other surety is required?
One month from the tenants at this point in time.

What are the main assets of the business?
Building/ Property

What is their overall condition?
Very Good

Strengths?
Good passive income from a Business that has been established long ago. Good solid infrastructure Well situated Fully occupied

What is the reason for the sale?
Owners/ Family moving away/ retiring to another province within SA

Why is this property a good investment?
It is in a good condition with good tenants and offers an attractive yield.

What is the asking price?
R17m

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AGENCY DETAILS

Aldes Pro

3 members
20 mandates
Gauteng
Malcolm Road
0000

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