SOLD – Petrol Station for Sale – South Coast

SOLD – Petrol Station for Sale – South Coast – KZN

Sale of a Service Station Business situated on the upper South Coast Area. NO B.E.E. REQUIREMENT.

This modern privately-owned, well-run Service Station Business is situated on the upper South Coast between Durban and Illovo. The Lease period directly with the OWNER is for 10 years with the Option to renew the Lease period for a further 1 x 5-year period. The current average monthly (Covid period) Fuel Sales are +- 273.000 litres per month and the Franchised Shop Sales are +- R 1,150 000.00pm. The pre-Covid Fuel Sales were +- 330,000 lpm and the Shop Sales were +- R 1,400,000.00pm. The current Net Profit is +- R 342,000.00 per month. The Selling Price is R 30.0 million and the TOTAL FUNDING REQUIREMENT needed to acquire this Business is +- R 32,865,000.00 of which you MUST HAVE at least +- R 16,500,000.00 CASH READILY AVAILABLE and be able to RAISE FINANCE for the BALANCE of +- R 16,365,000.00. Please note the following: – NO DETAILS, INFORMATION, DOCUMENTATION or SITE LOCATION WILL BE PROVIDED UNLESS YOU MEET THIS FINANCIAL REQUIREMENT as may be required by the Seller, the Oil Company and most Financial Institutions.

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.