How long has the business been established?
How long has the owner had the business?
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?
What is the zoning of the property and what can be developed thereon?
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?
Is the business VAT Registered?
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?
What is the annual escalation %?
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?
Is a copy of the lease available?
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?
What is their overall condition?
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?
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Annual Turnover Amount between R 500 thousand and R 6 million