Type: Retail Property
Price: R 3,200,000
Featured : Yes

Auto Repair Outlet Property in the node!
Yield 12%

Improvements
The building is used for a motor vehicle service & repair centre (10 work bays) which consists of a brick structure plastered & painted under sheet metal roof with accompanying reception & office component. Adjacent to the main building is a used car sales lot of ±350m² (including office of ±20m²) with 10 display bays under shade net plus additional space for ±5 stock bays.

Sale Terms
The seller wishes to sell 100% of the shareholding in the company which owns the property as its only asset and the company is stated as being debt free. The owner will allow the purchaser to conduct a comprehensive due diligence of the company prior to transfer of shares.

Rentable Areas
Main building         ± 500m²
Main building storage ±  50m²
Used car sales office ±  15m²
TOTAL GLA             ± 565m²

Figures
Gross Rent R 436 801
Expenses   R  50 013
NOI        R 386 788
Yield          12.09%