Telkom complex set to be a hit

Posted On Friday, 12 September 2008 02:00 Published by eProp Commercial Property News
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The former Telkom warehouse on Roan Crescent, Corporate Park North, will be in the spotlight as a standalone offering.

Property-Housing-ResidentialOne of the largest warehouses to come on auction in recent times is the former Telkom complex in Midrand, which is expected to attract keen interest at the Alliance Group commercial and industrial multiple sale next Wednesday.

In an auction that is dominated by retail buildings in Randburg, Klerksdorp, Hazyview, Nelspruit, Benoni and elsewhere, the former Telkom warehouse on Roan Crescent, Corporate Park North, which accommodates manufacturing and distributing industries, will be in the spotlight as a standalone offering.

The newly built warehouse and office complex with a gross lettable area (GLA) of 9 575m² is being sold by Telkom with vacant occupation.

“The industrial market has been very strong of late and many large users are still demanding further space,” says Neville Bear of the Alliance Group. “Properties of this calibre are very rarely on offer and this landmark property will no doubt grow in value well into the foreseeable future.”

An impressive retail and motor showroom on Turf Road, La Rochelle, is another lot expected to attract keen bidding. The building, with a GLA of 10 000m², is on a 9 294m² stand.

Sucosa House, a neat commercial/industrial building in Kramerville with a GLA of 3 128m² offers a gross income of R986 699 a year, and another attractive industrial property in Glen Austin, Midrand, has a GLA of 2 204m² and a gross annual income of R1,22m a year.

Two retail and convenience centres are for sale in Hazyview. One centre, near the intersection with the Sabie road, has a GLA of 6 543m² and a gross income of R3,16m a year. The other, opposite the intersection with the R536 to the Kruger Gate, has a GLA of 2 923m² and a gross income of R2,06m a year.

A multistorey retail and office block coming under the hammer is on the corner of Paris and Jan Smuts avenues in Bordeaux. The partially vacant building, with a GLA of 4 854m², has an income of R556 488 a year.

Other attractive retail centres are in Alberton and Nelspruit. The former, on Voortrekker Road, has blue-chip tenants, a GLA of 5 942m² and a gross income of R2,77m a year. The latter, on Bester Street, has Sales House as a single tenant with the lease expiring in 2016.

Described as a blue-chip investment, a modern block on Voortrekker Road, Gezina, Pretoria, has a GLA of 1 718m² and a gross income of R1,01m a year.

On offer in Krugersdorp is a modern office block with a GLA of 9 575m² on a 2 769m² stand on Ockerse Street, and in Klerksdorp, a retail-strip centre, Terminus Building, is for sale.

An interesting combination of a retail/conference centre and a filling station is on offer in Cullinan. The complex has seven tenants, a GLA of 1 670m² and 25 parking bays.

More unusual is the offer of a one-stop residential, bushveld and commercial component in Klaserie, Limpopo. The property, on 61,83ha, comes with five houses, two flats, restaurant and forecourt and has a gross income of R438 000 a year.

The auction will be held at the Southern Sun Hotel, Sandton, on September 17 at noon.

Last modified on Thursday, 12 June 2014 15:40

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