EC105 East London

Major Brand Petrol Station for Sale, East London, Excluding Property. B.E.E. (Black Economic Empowerment) requirements are 30 % share of the Business will be considered for this Franchised Service Station, (as required by the Oil Company). Fuel sales are 395,928 liters per month. C/Store sales are R 814,389 per month. Franchise sales are R 306,800 per month. Airtime sales are R 69,659 per month. Electricity card sales are R 61,731 per month. Oil/lube sales are R 28,339 per month. Lotto sales are R 90,936 per month. The station is open 24 hours per day, 7 days per week. Station net profit R 340,033 per month. Price R 12,3 mil excluding stock 1,500,000. Total selling price R 13,800,000 mil includes stock. Preference will be given to suitable candidates with sound knowledge based on proven financial and business principles and will be required to be considered for this opportunity. Coupled with this, a candidate will show and provide proof of the necessary cash funds from your bank to pay the monies associated with this transaction. The Seller has insisted that only CASH BUYERS will be considered. PLEASE NOTE: – NO INQUIRY will be entertained UNLESS you MEET the above Criteria. Due to the popularity of this listing, the overwhelming responses and the 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 cash” from your bank or financial institution for you to be privy to any information financial or otherwise.

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;

Cyrus Business & Property Brokers mandated with the sale of this opportunity was specifically requested by the Seller not to divulge any information about what is being sold under this listing before obtaining proof of funds from your financial institution (bank), auditor, or lawyer;

Due to the popularity of this listing, the overwhelming responses, and the 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;

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 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 of its accuracy does not certify or make any warranties of any of the information provided and has 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 the 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 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.