Opportunity to own an iconic retail centre in the heart of Kyalami
This is your once-in-a-lifetime opportunity to own a successful and highly profitable retail centre! The Local @ Kyalami, on 1 Kyalami Boulevard boasts significant upside potential, with the property providing room for growth and value enhancement through strategic management and redevelopment. Zoned as ‘Special’, it has a GLA of 14,054m2 and an ERF size of 38,597m2. National tenants make up 41.52% and occupy 5,835m2 of the GLA, while 2,802m2 of the GLA is vacant. The property’s long-standing 47 tenants include KFC, Tigers Milk, Build It and Supa Quick, promising investors both reliability and an established rental income through a steady cash flow. The Local @ Kyalami offers investors a significant projected net annual income of R12,384,915 and its excellent main road exposure ensures high visibility, attracting a constant stream of foot traffic and bolstering the property’s commercial appeal to tenants and customers alike.
Our thoughts on this property
A comment from Guy Dowding, Joint Managing Director for Galetti Auction on this property: “The Local @ Kyalami’s status as a prominent shopping centre positions it as a prime investment property, catering to diverse retail needs. The fact that it is in business rescue presents a unique chance for investors to acquire and revitalise a valuable asset at a potentially advantageous price point.”
Registered Owner: Coralfig Kyalami Proprietary Ltd (In Business Rescue)
Registration Number: 2012/169610/07
VAT Registered: Yes – 487 028 8000
Want to place your bid?
Register to join us at our not-to-be-missed auction on 14 September 2023! The auction starts at 12pm at Summer Place, Hyde Park.
Find out more about this property: https://galetti.bidwrangler.com/ui/auctions/97220?query=kyalami
