Accepting Offers.
DESCRIPTION:
Multi-Tenanted Rural Retail Shopping Center—Massive Upside Potential to Be Unlocked.
Ibhayi Shopping Centre has a long-standing history of servicing the local community in KwaZakele, Port Elizabeth. Maintaining steady occupancy levels from national and local tenants, there is massive opportunity to uplift the building and boost the profile.
Located directly opposite the Isaac Wolfson Stadium & Daku Community Centre. Within close proximity of educational institutions, religious places of worship, and other recreational parks.
Note - Property is sold as is "voetstoots." In-house sales, letting & development services for investors or developers looking to capital flip or secure leases or redevelop.
NDAs will be required for any financial or business disclosures. Exclusive commercial finance can be arranged.
Key Information:
• Zoned: Business
• GLA estimate: 1,720 m²
• Consists of 12-17 units, a single-level structure, and 54 parking bays
• Tenancy Mix—Shoprite Usave (Anchor), Picardi Liquor, Nedbank & FNB ATMs, motor spares, fast foods, cellular store, etc.
• WALE - 3.2 years • Vacancy - ±18% • Utilities—Electricity (Eskom), municipal water, recoveries—operating costs mostly recovered from tenants
• Security—CCTV, perimeter fencing & guards on duty.
• Access—Solid foot traffic from local township catchment area. Public transport drop & go spot for direct pedestrian access.
Potential Upsides:
• SDP Revision available—additional bulk to extend GLA
• High visibility node—signage installations for advertising revenue
• Potential solar installations• Capital growth optimization via re-tenanting or renegotiation of leases.
View by Appointment. Contact Sachin & Rob for more info or OTP.
DETAILS:
• Erf no: 50124, Ibhayi
• Erf size: 3789m²
DISCLAIMER:
The information supplied in this advert does not constitute a warranty of any kind or nature by the Sellers of the property or by the Brokers. Buyers must conduct their own investigations prior to purchasing.
Property Address
Kwazakhele Port Elizabeth
