This retail property is situated in the Benoni CBD.
Benoni has adequate services with established infrastructure and forms part of the Ekurhuleni Metropolitan Municipality.
Benoni is located in the East Rand and is accessed from the Tom Jones exit off the N12
e’Malahleni highway. The area is also accessible via multiple arterial routes including Heidelberg
Road from the N17/Carnival City exit. The area comprises of a combination of commercial, mixed-use buildings as well as residential properties varying in size, age and condition.
Benoni is used as a service hub for other East Rand towns including Germiston, Boksburg,
Brakpan, Nigel and Springs. The city is conveniently located near the O.R. Tambo International
Airport and many companies use this as a base for their businesses as they can expediently
operate from here. Demand for commercial and residential property in this region is high.
This property is a well-maintained retail centre that is situated between two busy main
roads, Woburn Avenue and Cranbourne Avenue, Benoni.
Benoni is a popular well established high demand node with all services installed and in use.
The one storey centre enjoys high foot traffic and is trading well, there are currently only 5
vacancies out of the total 44 stores. All amenities are in close location and within easy access to the subject property including Benoni SAPS, Benoni Magistrate Court, Netcare Lakeview, Life Glynview & Glynwood Hospitals, Taxi Rank ER048, Department of Home Affairs and Benoni License Department.
The site is serviced by various primary and secondary arterial roads including Bunyan Street and Tom Jones Street, with the N12 being within easy access.
Notable features of the property are:
- The entire retail centre is situated across four stands / erven.
- All erven has a business 1 Zoning.
- Total erven size: 4 284m2
- Property GLA: ± 3 100m2
- 44 stores
- Long-standing tenants
- Short distance to the N12
- Busy city centre, good visibility with high foot traffic
- Active business and residential area
See the schedule of income and expenses attached for a detailed analysis of the property's financial performance.
A summary of the expected ANNUAL income and expenditure are as follows:
ANNUAL GROSS INCOME
- Gross ANNUAL rental income ... R1,660,824
- Municipal services recovered ANNUALY ... R216,816
- Total Gross ANNUAL income ... R1,877,640
- ANNUAL Expenses as per schedule ... R771,048
TOTAL NET ANNUAL INCOME
- ANNUAL Net Income as per Schedule ... R1,106,592