2,616m² Retail For Sale in Kathu

R82,000,000

Web Ref No CLS2852

Commercial Property for sale - Kathu

COMMERCIAL PROPERTY WITH GOOD RETURN ON INVESTMENT

This is an exciting opportunity to invest in a profitable and very well-established filling station, that is located near the Sishen Iron ore mine in Kathu in the Northern Cape.

Currently the income on the property is approximately R6m per year and with escalations it can grow fast. The property comprises a filling station, a retail shop and warehouse building with long-term lease agreements.

LEASES:
Forecourt & Retail Shop Lease: 10 Year Lease - 2029 (6 Years remaining)
Fuel Supply Agreement: 5 + 10 Year Agreement - ends 2034 (11 years remaining)
Unit 1 - 5 + 5 Year Lease Agreement - ends 2032 (9 years remaining)
Unit 2A - 5 + 5 Year Lease Agreement – ends 2032 (9 years remaining)
Unit 2B - 1 Year Lease Agreement (8 months remaining)
Unit 2C - Vacant (rental price @ R120.00/m2 x 374m2)
Unit 3 - 5 + 2 Year Lease Agreement – ends 2030 (7 years remaining)
Unit 4 - 1 + 1 Year Lease Agreement – ends 2025 (2 years remaining)

Land size – 1,9675ha
Buildings size – 2616m²