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Market Assessment
- The annual turnover for the catchment area at the indicated size is estimated at $51.2 million for 2024 with an average annual trading density of $3,795 for the proposed shopping centre at current projected market indicators.
- The total average retail expenditure is estimated at $445 for an effective market of 82,399 households which represents 23% of the catchment’s households.
- The market share of the proposed shopping centre is 10.5%.
Macro and Micro Assessment
- The city of Yaoundé has experienced expansion in the southern and a northern parts of the city.
- The population of Yaoundé usually doubles after every 8 to 9 years. With an exponential growth of about 4.1% per annum, Yaoundé exceeds other towns in Cameroon and is typical of the fastest-growing towns in the world.
- The population and urban growth of Yaoundé are attributed to natural increase and migration which increases 4% to 5% annually since 2000. Rural-urban exodus and immigration from abroad have greatly contributed to this population and urban growth. About 25% of the urban population of Cameroon is located in Yaoundé. In the last 6 decades, the population of Yaoundé has increased 10 folds.
- As the capital of Cameroon, the growth of Yaoundé is further attributed to the concentration of public services and diplomatic representation in the city. In 2019 Yaoundé was ranked the second fastest growing city in Africa after Luanda-Angola.
Capex
Note: The Capex document is in the downloads section at the bottom of the page.
Financial Analysis
Seven Hills income comprises of the following key revenue streams:
▪ Commercial office park
▪ Retail center
▪ Hotel
▪ Structured basement parking
For more information please see the Financial Analysis download at the bottom of the page.
Socio-Economic Impact
The development of the mixed-use development has the potential of a trade injection to the economy as follows:
- Shopping Centre Turnover Potential (Accumulative Trade Generated by retailer’s p/a): $64,635,686
- Retail Rental Projected income p/a: $8,928,000
- Office Development Projected Rental income p/a: $7,860,000
- Hotel Development Projected Turnover: $8,644,806
The regional impact of the Seven Hills development will be to the similar extent as that of the new Douala Grand Mall Development, by attracting international investment and kick starting on a globalized level, trade investment to the localized level of Yaoundé and the direct region. Ensuring multiple expansion of construction spin-offs to the economy as well as providing an international platform for trade expansion by introducing local partners to global retailers thus developing trade gravity for the region.
On a social economic level, employment opportunity and skills transfer will benefit the local economy immensely. International know-how in terms of development, property management, retail management, consumer and customer care, facility management and rental management will be transferred. The efficiency derivative, that is difficult to measure in general, will enhance investment ease due to a broader base of skills that will be developed over time.
Sales Process
This property is being sold by way of a Private Tender process under a Sole Mandate with CBRE Excellerate.
Interested parties will have access to the Property Brochure and NDA on registration on the CBRE-X online website.
Should you wish to access the full Due Diligence information in the ClicktoPurchase (CTP) data room, we will require you to sign the Non-Disclosure Agreement (NDA), and provide information regarding the entity and individuals represented by that entity, that is expressing an interest in the property. This can be in the form of a link to your company website, your company profile or a brief resume for both the company and key individuals involved in the transaction.
On successful review of your registration, you will be granted access to the CTP data room. Besides all DD documentation, you will also have access to the sale agreement.
Should you wish to submit an offer on the property, you will be required to provide proof of funds or comfort from a financial institution that they would favourably consider an application from yourself for funding for the property in question. Interested parties are invited to submit their best unconditional offer as soon as possible.
Only interested parties that have submitted an NDA and provided the aforementioned information, will be invited to view the property in the company of the Agent or a representative of the Seller.
FICA and KYC verification will be required in order to register on (CTP).
In the instance where a binding offer acceptable to the Seller is presented, the Seller reserves the right to accept any offer but undertakes to instruct the Agent to inform all interested parties (those that have signed a NDA and accessed the DD information via CTP) that there is an offer under consideration at least 5 business days after receipt of that offer.
The agent will present all offers to the Sellers.
All offers need to be open for acceptance for a minimum period of 15 business days from date of submission.
The agent will communicate acceptance of their offer to the winning party and inform all other parties that have not been successful.
Offers will be assessed on, amongst others, the following criteria:
The price offered.
Ability to perform and provision of comfort letter or proof of funds for the transaction in question.
Conditionality of the offer and timeline to conclude the deal.
Disclaimer
The website provides information about properties but does not guarantee its accuracy. Users access the site at their own risk and should seek professional advice before making any decisions based on the information provided. Property descriptions are general and do not constitute an offer or contract. All details are believed to be correct but should be verified by users.
The company and its employees do not make any representations or warranties regarding the properties. Prices quoted are exclusive of taxes. The information on the website may contain errors, omissions, or may change without notice. Users should conduct their own investigations before making any investment decisions. The information provided should not be considered financial or investment advice.
Any information given by the company or the vendor is for illustration purposes only and does not constitute a representation, condition, or warranty. Users are responsible for conducting their own due diligence to verify the accuracy of the information provided.
