How long has the business been established?
The property is in the family since 1960.
How long has the owner had the business?
Fully describe this property and its income earning activities.
The property has been developed with five factories of different sizes varies from 374 to 745 sqm with four separate offices of 145 sqm each. The total Gross Lettable Floor Space is 3335 sqm It is ideal for Industrial applications.
What is the approximate age of the buildings?
The property was developed in 1975.
What is the zoning of the property and what can be developed thereon?
Are there building plans available?
Yes approved plans are in place.
What is the erf size and the size of the buildings?
The Factories and offices build on the property is a total of 3335 sqm. The erf size is 5198 sqm
Is a property valuation available?
Yes a valuation was done in June 2020.
How does the business operate on a daily basis?
All Administration is done by the owner
How did the Covid-19 pandemic impact the business turnover / daily operations?
The period of total lockdown caused loss of rental income and is back to normal.
What steps / actions have been taken to combat the effect of Covid-19 pandemic?
Each Tenant does comply the the applicable protocols.
Is the business VAT Registered?
What VAT documentation is on file?
All VAT returns are on file
Are there up-to-date Management Accounts available?
The financial detail on file is related to this specific property. There are an other property in the Trust and that financial information is not applicable. The revenue shown is 81% actual and the balance is the budget of the vacant factories
What percentage of the business is cash/credit?
Is Seller finance available and for what amount?
Conditions and terms to be negotiated with reasonable terms.
How could the income of the property be increased?
More rental income per square meter can be charged if the economy allows.
What is the monthly rates and taxes payable to local authority?
The rates and taxes amounts to R20853 pmi
What rental deposit has been secured from the tenants?
There is no Deposit's on the tenants that is renting for many years. On more current tenants an one month deposit is applicable.
What are the main assets of the business?
The main assets are the property with all the Factory buildings and offices.
What is their overall condition?
The buildings are in a good condition.
Do any require repairing?
Floors in two of the factories needs attention and will the cost be about R40 000
Are they presently insured?
The buildings are insured for R10 000 000
The Property is at a excellent proximity with high visibility. Good security fencing and gates . Well laid out factories and offices with enough parking and access for Trucks to deliver and for dispatch. Very functional.
Corona had an effect on tenants.
Rental can be increased when economy allows
What is the reason for the sale?
The owner wants to consolidate his portfolio.
Why is this property a good investment?
This property is an excellent opportunity for capital growth and future return on investment. Buying this property to accommodate the business owners with his own factory operations and not being part of future escalations on rental does make big sense.
What is the asking price?
The asking price is R12 000 000
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