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Prime Retail Investment Opportunity In Randburg For Sale

Randburg, Gauteng, South Africa
Asking Price:
R9,000,000 Furniture / Fixtures and Inventory / Stock included
Sales Revenue:
R20,000,000
Cash Flow:
R15M - R100M

The property (as illustrated) is in a very prime retail business position on the main Johannesburg to Randburg road, Jan Smuts Avenue, it is located at a main intersection into Blairgowrie, Randburg being Gordon Avenue.

It was at this site that I opened the first independent “stand-alone” Timbercity retail franchise outlet back in 1983 as manager for a former employer of mine. In 1989 the owner asked me if I may be interested in buying the business from him as I had just sold my residential home and had funds to invest. This I saw as an opportunity not to be missed and so after negotiating with him I became the new owner. The company went from strength to strength, and we then negotiated with the owner of the property to purchase the site my company was occupying. This was done in 1991.

The next step we envisaged for an expansion programme was more space as we were experiencing problems with large deliveries blocking traffic and customer access to our shop and parking. We decided to buy a residential property next to us on Jan Smuts Avenue.

This venture took us a lot longer, but we eventually managed to buy it which has now given us an extra 1381 square meters to enlarge our total business site to approximately 3600 square meters. Together with access to the property by very large vehicles for deliveries down a separate slip road, it has also enabled customers to have easier access to the shop and parking at the front entrance and eliminated traffic problems on Jan Smuts Avenue.

We now have a wonderful retail business site that can continue as a hardware store that has been established and profitable for 38 years. It is zoned as Business One and includes rights for apartments to be built above the existing premises if so desired.

I would like to consider the possibilities myself, but as I have been diagnosed with a dread disease (rheumatoid arthritis) at the age of 74 I have decided to sell the business and retire. This is a wonderful opportunity for “fresh blood” who possibly wants to involve family members in the company workforce as well. I have kept stringent records of the company’s turnover and finances throughout the whole 38-year period since its first inception.

A merger with Cashbuild was not granted by the monopolies commission so The Building Company is no longer franchising Timbercity branches. As such, I feel that this is the correct time to sell my operation in Blairgowrie. The owner is placing this highly successful timber, board, and hardware company for sale. With its 38-year track record and current projected R20m p.a. turnover, the going concern is on the market for R9m (R9 000 000) negotiable.

For more information, please contact us by using the form below.

Property Information

Real Estate:

Lease

Lease Terms:

Minimum initial lease term of 5 years with pricing and structure negotiable.

Leasehold Rent:

R840,000 per annum

Living Accommodation:

N/A

Location:

Corner of Gordon Avenue and Jan Smuts Avenue (High Traffic Area)

Premises Details:

2064m² of ground with 850m² under roof with a 500m² retail area.

Size in square feet:
22 216
Planning Consent:

Zoned as Business 1

Business Operation

Expansion Potential:

- 3 Neighboring stores all owned by the same owner ready for incorporation into the floor area totaling another 265m² under roof.
- House on adjacent property along Jan Smuts also owned by the property owner totaling 1381m²
-Vertical expansion also possible (currently zoned for this).

Competition / Market:

Build it (1km)
Builder's Warehouse (2km)
Timbercity Strijdom Park(4km)

Reasons for selling:

Owner age, health and wanting to retire.

Trading hours:

Monday to Friday: 08:00 - 17:00
Saturday: 08:00 - 16:00
Sunday: Currently not operating on Sundays (Reopening on Sundays in the near future)

Employees:
18
Years established:
1983 - Present

Other Information

Support & training:

Training for stock knowledge and processing of raw materials to customer requirements.

Furniture / Fixtures value:
R500,000 - included in the asking price
Inventory / Stock value:
R3,300,000 - included in the asking price
Website:
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