Prime commercial properties offering robust returns.
Fairland, bordering on the established and upmarket area of Northcliff, is enjoying regentrification, attracting young buyers and investors in search of the larger, leafy plots. It features easy access to the highway, numerous malls, shopping hubs, modern lifestyle estates, top-rated schools, hospitals and foodie-favourite eateries.
The two tenanted properties on offer in this area promise value for money with easy access to major transport routes and business hubs, making it the ideal investment location.
1. Petrol Station, 120 14th Avenue
Offering a triple net lease with a projected net annual income of R1 473 596, this lessee-managed petrol station property is ideally located in the residential heart of Fairland. The property consists of a retail building, with a Bonjour forecourt shop (fitted with fridges and freezers) and a Mugg & Bean Café, as well as a canopied car wash and 8 petrol pumps. In addition, the property boasts solar panels, a generator, an extensive CCTV camera system, public toilets and staff amenities.
This petrol station is currently under the management of the lessee, Total Energies, under a lease agreement that expires – and will be open for re-negotiation – in 2027.
Property details
Registered size – 2 380 m2
Canopied forecourt – Yes
Generator – Yes
ATM – Yes
Car wash – Yes
Registration number – 1987/018621/23
Registered Owner – Wimova Prop CC
Vat registered – Yes
Our thoughts on this property:
A comment from David Dawson, Auction Associate, Galetti Corporate Real Estate, on this property: “This property offers a healthy annual income for an investor who’s looking for great returns and huge upside. Featuring all the right amenities, and boasting a truly exceptional position in the much sought-after Fairland, this petrol station is going to be snapped up fast. The fact that it’s already under effective management is a real bonus.”
Checkers Supermarket, 45 Sophia Street
With a 10-year lease already in place with 4 x 5 renewal options, and construction on this Checkers Supermarket and liquor store building set to wrap up in the coming months, this investment opportunity is not to be missed! It offers a projected net annual income of R1 266 073.
Located with easy access to main transport routes and in close proximity to the Florida Glen and Northcliff areas, this property is accessible and convenient for residents and commuters alike, ensuring a steady stream of shoppers.
Property details
Registered size – 2 380 m2
Registration number – 1990/014756/23
Registered Owner – Famagousta CC
Vat registered – Yes
Our thoughts on this property:
A comment from David Dawson, Auction Associate, Galetti Corporate Real Estate, on this property: “This retail centre is the epitome of potential! With construction almost complete, and a lucrative 10-year lease already in place, this is a great choice for the savvy property investor.”
Want to place your bid?Register to join us at our not-to-be-missed auction on 31 May 2023! The auction starts at 12pm at Katy’s Palace in Kramerville.
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