R42 000 012 | 3140 m2 @ R13375 per m2
View more unitsThis investment opportunity represents a popular retail centre of 3 140m², 79.14% occupied, for a total purchase consideration of R42.00mn (R13 376/m²), offering investors an initial NOI forward yield of 9.86%.
Located along the "beachfront mile" of Port Elizabeth, this iconic shopping centre offers an indulgence of exclusive stores, entertainment and conference venues. This commercial space to let in Summerstrand Humewood offers a 3 140m² building consisting of three levels with restaurants dominating the first two floors and a conference centre with a capacity for 220 guests making up the remaining floor. The tenant mix on-site is what makes this property attractive, it includes popular retailers such as Roccomamas, Nando’s, Pizza Hut and the renowned Beer Shack making it ideal for any business looking for walk-in customers. The building features 24-hour security throughout the week which allows for a safe and vibrant environment. In addition, the shopping centre offers picturesque views of Kings Beach, the Harbour and Algoa Bay allowing a tranquil vibe for a commercial environment. The shopping centre is centrally located and positioned an approximate 5-minute drive from the Port Elizabeth International Airport. Furthermore, it is bordered by the affluent neighbourhood of Summerstrand and it is within walking distance of tourist attractions such as Bayworld, various prominent hotels as well a string of the bay’s blue flagged beaches.
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