Consol Woodmead

16 Waterval Crescent | Woodmead | Johannesburg  | 2191

Price on Application



Investment highlights

  • An opportunity to acquire a well-secured retail-industrial investment

  • Fully let to a blue-chip tenant

  • Unexpired lease term of 36 months

  • Well situated and secured in the popular Woodmead Retail Value Mart

  • Property enjoys easy access to major freeways such as the N1 Western bypass and the N3 Eastern bypass

  • First year’s forward Net Operating income of approximately R2 million



The property is located in Woodmead, a mostly commercial suburb in the northern part of Johannesburg, Gauteng, South Africa. Four highways meet here, the N1 Western Bypass, N1 Ben Schoeman, N3 Eastern Bypass, and the M1. The southern terminus of the R55 road is also located here. Access is off the Woodmead offramp to the M1. Several large businesses are located in Woodmead, including 3M, Ericsson, Accenture, and SAP. Woodmead is situated in close proximity to Sunninghill North of the Western Bypass, and Buccleuch east of the N3.


The property is located within the well-established Woodmead Retail Park at number 16 Waterval Crescent. The property has good access as well as street front exposure to Waterval Crescent and is easily accessible from the adjacent M1 freeway. It is also in close proximity to the Waterfall City retail and commercial node. 

The property comprises a single storey retail shop and adjoining double volume industrial warehousing. Brick and IBR construction with decorated tiled façade to the shop frontage. Internally the shop has polished screed flooring while the warehouse is appropriately marked for stacking with vapour powered lights suspended from the ceiling. The bathrooms have wall to wall tiles and BIC’s to the kitchen.


Zoning and Title Deed Information

Erf: 551 Woodmead Ext 5

Tenure: Leasehold

Registered Owner: Witwatersrand Estates Limited

Title Deed number: T119776/2001

Local Authority: City of Johannesburg

Extent: 6,852 sqm

Zoning: Special

Floor Area Ratio: 0.6

Coverage: 60%

Height: 3 storeys

Boundary Lines: Provincial road P66 = 1:16 m; along all other boundaries: 5m

Rentable Areas

Use Use Size (Sqm) / Bays
Shop 342
Other (Warehouse/Storage) 1,984
Total 2,326
Open 19
Covered 10
Total 29



Leasehold tenure

The property is held on a leasehold tenure on a long-term lease which commenced on the 01st March 2004 and expires on the 28th February 2024. The lease allows for 2 x 5-year renewal options. The land rental payable equalled R15,552.50 at the lease commencement date and escalates at 10% per annum.

Tenancy and covenant

  • Tenant: Consol Glass (Pty) Ltd

  • Lease term: 5 years 

  • Expiry date: 30 September 2024

  • Rent: Shop: R130 per sqm; Warehouse: R105 per sqm

  • Escalation: 8% per annum

Consol has been forming glass for more than 70 years. Operations began in January 1944, when Anglovaal – a new Johannesburg finance house – acquired a glassworks factory in Pretoria. Two years later, Consol Glass was founded. Since then, the company continuously grew, quickly becoming a leading glass manufacturer in Africa.

Consol has manufacturing facilities in four areas in South Africa, namely: Clayville, Nigel and Wadeville. These sites produce a range of glass packaging for the food and beverage industries inclusive of the beer, alcoholic fruit beverage, wine, fruit juice, soft drinks, mineral water and spirits markets. The company have also acquired a majority shareholding in Glassforce, Nigeria, with a manufacturing plant located in Aba which produces glass packaging for the food and beverage industries, including beer, as well as the pharmaceutical industry. The portfolio has also expanded over the years to include packaging for the pharmaceutical and cosmetics industries – serving a wide range of local and international customers. The company also has a manufacturing facility in Kenya.


Net operating income


Period March 2022 - February 23  
Gross income (ZAR) 3,804,169
Gross Expenses (ZAR) 1,783,197
Net Operating Income (ZAR) 2,020,972

A full breakdown of the projected NOI is available upon signature of an NDA, along with tenancy schedules, rent rolls and plans where available.


The Seller has been registered for VAT (Value Added Tax). It is intended that the sale will be treated as a transfer of a going concern, provided that the purchaser is registered for VAT and the requirements for going concern are met in terms of the VAT Act, No. 89 of 1991.

Sales process

Stage 1:

In this stage of the process interested parties are requested to submit a non-binding Letter of Interest / Intent (“LOI”) to the JLL Empact JV by no later than -

12h00 on Thursday 7 October 2021. Bids are to be submitted electronically to the email addresses of the agents provided herein in the template LOI format provided in the Downloads tab below. Please note that late electronic submissions will not be considered by the PIC.

To submit these LOIs the following Stage 1 property information is available under the Downloads tab:

A downloadable Information Memorandum (which is a summary of the information contained in this property information page);

  • A comprehensive Stage 1 Process Letter (setting out the two-stage Private Tender Process in greater detail);  
  • The Seller’s template / standard Letter of Intent / Interest (“LOI”);
  • The Sellers’ standard Non-Disclosure Agreement (“NDA”). The NDA must be completed if the purchasers wants to view a detailed Tenancy Schedule (if applicable and available). 

Bidders will also be allowed to view the Property, provided 48 hours’ notice is given to the JLL Empact JV. 

To download any of these documents you’ll be required to register to become a subscriber to the South African Property Exchange (SAPX).

Stage 2:

Stage 1 LOIs / bids will be assessed by the Seller and thereafter a select number of bidders will be given permission to participate in Stage 2 of the process. In Stage 2, select bidders are given access to a comprehensive Stage 2 due diligence data room to conduct a more extensive due diligence exercise. FICA or KYC verification will be required and submission of binding offers will be done via the ClicktoPurchase functionality on SAPX or via the submission of PDF signed copy of an approved sale and purchase agreement directly to the agents. The agents will provide selected bidders with instructions that outlines how offers are to be submitted via ClicktoPurchase® or direct submission by providing select bidders with a detailed Stage 2 Process Letter.

In Stage 2 bidders have up to 6 weeks to conduct their DD and submit final binding offers.

Bids will be accessed on four main criteria:

  • Price
  • Ability to perform / track record
  • Conditionality (i.e. speed of performance)
  • Timing of electronic submission of offer.

Empact Group

PJ Muller +27 (0) 82 888 0828
Kedibone Bolofo +27 (0) 83 988 1740




Pepler Sandri +27 (0) 82 445 5496
Thabiso Malibeng +27 (0) 79 183 1153