AUCTION
Stand-Alone Shoprite - Cosmo City - On Auction 21 November
On Auction 21 November - Stand-Alone Shoprite - Cosmo City
Where United States of America Avenue meets South Africa Drive in Cosmo City, Johannesburg, lies a rare auction opportunity for retail property investors!
This stand-alone retail facility is primely positioned in one of the main commercial hubs of Cosmo City. This property is a low-risk investment asset as the national tenant, Shoprite, has recently renewed their lease agreement for a further 5 years. This is a clear indication of their intention to operate from the property into the foreseeable future. With an income of more than R3million per annum as well as potential upside of unlocking further income from a solar installation, this opportunity cannot be missed.
It is ideally located neighbouring the taxi rank and down the road from the Cosmo Mall. There is a Cashbuild facility, Sasol Filling Station and another Shoprite retail offering with a KFC across the road. The surrounding area is surrounded by residential accommodation, with the Palm Springs residential development located not even 1 km from the store. If you are looking to acquire a retail facility which is located within an area which upholds all of the property fundamentals to service a successful retail operation, you do not need to look any further. This is your opportunity to take hold of.
Assets like this, with prime lease and tenant covenants, rarely make it to the auction market as they are so desirable that the owners tend to sell them directly within their network. The owner of this asset however, wanted to offer the entire market a fair opportunity to acquire this site. The opportunity is therefore ripe for you to take action and acquire!
The GLA of the premises equates to 2 283m² on an Erf of 4 4653m². There is sufficient space for the maneuverability of vehicles and access can be gained via both United States of America avenue and Oklahoma Avenue.
For more information contact us now so that we can get you registered for the auction.
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