Summary

This property is highly desirable in a sought-after town situated in the heart of the Lower South Coast of KwaZulu Natal.

Give me more information

How does the business operate on a daily basis?

The owner has a manager who ensures that all tenants' rent is paid timeously. Utilities are paid by tenants via prepaid meters.
There is a handyman who attends to all repairs and maintenance that require attention.

What Advertising/Marketing is carried out?

The property is fully occupied and/or tenanted so there is no need to carry out any advertising or marketing.

How could the profitability of the business be improved?

One of the residential units is currently rented for a 12-month period at R22 500pm but it can easily be converted into an Airbnb facility, which can increase monthly/annual rental income substantially. It is fully furnished, and brand-new linen is ready to be deployed.
Some of the retail units are currently being rented out at below market value so there is an opportunity to increase income there.
Other units are being rented to staff at below market rentals.

Give a breakdown of staff/ functions/ length of service?

Manageress – all admin for the building - 5 years.
Handyman – works for the signage business and makes repairs as needed for the building. - 4 years.
Gardener – 1 day a week - 2 years.
Cleaner – 3 mornings a week - 5 years.

Do any have management potential?

Yes.

How involved is the Owner in running the business?

The owner is also involved daily to ensure the smooth running of the properties.

When does the current lease end?

To be made available to qualified buyers.

What are the trading hours?

8am to 5pm.

Strengths?

This property is in such excellent condition that there are literally no noticeable repairs or maintenance to be carried out. All that is required by the new owner to keep it in its current state will be some minor maintenance here and there.

Weaknesses?

The property is fully developed so there is limited opportunity for expansion.

Opportunities?

Some of the retail units are currently being rented out at below market value so there is an opportunity to increase income there.
Other units are being rented to staff at below market rentals.