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This is a going concern with strong fixed asset value. Just under R1,8 mill.
Footfall at Festival Mall has remained flat because of the lockdowns but now will now change as of level 1. The shopping mall complex has gone back to longer opening hours, a number of empty shops have now been filled, etc.
It is still a super centre regional mall. This has only come into effect from 1st October.
Town has been impacted by the land border closures however that entire precinct is seeing massive infrastructure spend which will attract further footfall - note this is a residential and retail node with offices and the store in town is positioned on the main bus routes, all local busses literally stop outside the store.
Both stores are fully fitted out therefore the need to invest and fit out the stores is not needed.
These Stores are both situated in PRIME locations, and although affected by COVID and Lockdowns, have already shown great Turnover achievements of Combined R 1,615,695 from March 2021 to August 2021.
This is a great opportunity to buy a successful recipe which survived the Covid Pandemic and is ready to grow in the Economy.
Reason for sale is owner is emmigrating
both stores need to be sold together
We are using An Asset based Valuation simply because Profits can not be considered due to Lockdowns and the COVID Pandemic, which affected the Economy as an entirety.
In essence these Stores, have achieved a combined Turnover of R 1.6 million in 6 months since March 2021 to August 2021( Amidst a Level 4 Lockdown), and these figures are in fact realistic and expected to continue and grow.
The valuation includes the very valuable recipes of the sauces and spices, although not quantified.
Asset value as per the Balance sheet for August 2021 =
Eloff Street, Fixed Assets R 1,059,671,00
Festival Mall, Fixed Assets R 711,539,72
Total Asset Value R 1,771,210,72
Selling both stores at R1.8 million (this includes all recipes and sauces)
Please complete and return our attached NDA for more information
Leases are in place and can be cession
Huge expansion can be done in that they can be rebranded, the menu mix changed and enhanced and can offer a fare greater variety of menu that can attract footfall. Furthermore they can both be separately differently branded offering different concepts for each market.
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