Petrol Station for Sale KZN

Listing ID: J.L.R 79

Sold by Cyrus Brokers R10,300,000 - Petrol Station Property Incl
J.L.R 79Area: Verulam / PhoenixPrint

Petrol Station for Sale KZN

Freehold Petrol Station for Sale – Verulam / Phoenix. This long-established Freehold Service building with a canopy is situated on 1148 sq metres of land on a busy road in the residential area of Verulam / Phoenix. There are presently NO Pumps and Tanks on site. However, a well-known Oil Company is willing to re-install their own pumps and tanks on site again and Brand the Service Station in their own colours. Prior to the pumps and tanks been removed by the previous Oil Company the site pumped +- 200.000lpm. There are 10 tenants on site collectively paying rentals to the owner of R 58.500 per month which includes a 3-x bedroomed residence above the Service Station. The Projected Fuel Sales for years 1 = 150.000lpm, 2 = 200.000lpm and 3 = 250.000lpm. The Projected Nett profits for year 1 = R 177.850pm, year 2 = R 280.600pm and year 3 = 401.900pm. The Environmental Impact Assessment report has been approved. The Selling Price is R 10.3 million, and the Total Funding Requirement needed to acquire and establish this Service Station is + – R 13.670 million of which you MUST HAVE at least R 7.0 million CASH READILY AVAILABLE and be able to RAISE FINANCE for the BALANCE of + – R 6.670 million. The Seller has insisted that only CASH BUYERS will be considered. Due to the popularity of this listing, the overwhelming responses and daily avalanche of emails and voice messages thereto, you will be required to complete our Non-Disclosure Agreement and to provide us with “proof of finances” from your bank or financial institution for you to be privy to any information financial or otherwise. NO Details, Information or Documentation will be released UNLESS you meet the Requirements.

Interested in this Business

NO information financial or otherwise on any of our listings will be made available to prospective buyers unless they fully comply with the following;

  1. Cyrus Business & Property Brokers mandated with the sale of this opportunity was specifically requested by the Seller not to divulge any information pertaining to what is being sold under this listing prior to obtaining proof of funds from your financial institution (bank), auditor or lawyer;
  2. Due to the popularity of this listing, the overwhelming responses and daily avalanche of emails and voice messages thereto, you will be required to register as a buyer, complete our Non-Disclosure Agreement and provide us with “proof of funds” from your bank or financial institution for you to be privy to any information financial or otherwise;
  3. Upon receipt of your Non-Disclosure Agreement and proof of funds, you must be prepared to visit us, we want to meet you in person, where after all information will be conveyed without delay.

Confidentiality Information and Viewing

The Seller/Owner desires to maintain the confidentiality of information financial or otherwise of their business and does not want their competitors, employees, suppliers, customers, and others to know they are selling their business. It is thus extremely important that the business is protected from this at all times and can only be viewed by appointment through Cyrus Business & Property Brokers.

Disclaimer

All information has been provided by the seller and needs to be re-verified by the seller. Cyrus Business & Property Broker makes no representation to its accuracy and does not certify or make any warranties of any of the information provided and have not verified any information. It is strongly advised that you and/or your accountant review all information and do your due diligence before the closing. Information is subject to change without notice.

Commission

A property practitioner is not entitled to a commission unless he/she is registered and possesses a valid FFC

The following juristic and natural persons are defined by section 1 of the Act as property practitioners, Agents, Business Brokers, Consultants, Advisers, Agency, Accountants, Attorneys, Auctioneers, Bridging Financer, Bond Brokers, Developers, Homeowners Associations, Managing Agents, and Time Shares, (note, without limiting to same).

The Property Practitioners Act came into effect on the 1st of February 2022. Sections 47 and 48 of the Act compel property practitioners including its Directors, Members or Trustees, and all employees who act as property practitioners to obtain and hold a valid Fidelity Fund Certificate (FFC) which must be applied for from the PPRA.

Section 48 of the Act effectively bars a property practitioner from rendering services as a property practitioner if he/she does not possess a valid FFC and Section 56 dictates that a property practitioner is not entitled to commission unless he/she is registered and possesses a valid FFC.

Furthermore, Section 48(4) stipulates that a property practitioner who receives a commission in the absence of the certificate as mentioned above will be required to pay back the commission immediately upon receipt of a written request. Conveyancers are prohibited from paying commissions or monies unless a property practitioner produces a certified copy of their FFC.

The consequence of operating without a fidelity fund certificate is that a property practitioner can be found guilty of an offense in terms of section 48(5) of the Act.

If there is any doubt as to whether or not juristic and natural persons are defined by section 1 of the Act as property practitioners have a valid fidelity fund certificate, do not hesitate to contact the Property Practitioners Regulatory Authority (https://theppra.org.za/) or your Attorney to confirm and verify the registration status.

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