Office space is a safe investment

Posted On Friday, 10 October 2008 02:00 Published by eProp Commercial Property News
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Prospects for the business property market are looking brighter than before.

 

Property-Housing-ResidentialAs the market seems to have realigned with the new interest rates, sectors are increasingly feeling the shift from a seller’s to a buyer’s market, says Paul Winterstein of Aucor.

“As building prices and availability decrease, rental office space continues to command higher rentals. As a result, investing in office space is still a fruitful investment.”

A number of office blocks will be offered at the coming Aucor multiproperty auction, including a modern 200m² office park in Weltevreden Park, and a range of office blocks in Germiston, Capital Park, Kew, Pretoria and Randburg will also be sold.

Winterstein says the cost of construction has been compounded by high interest rates. Refurbishing industrial facilities thus seems more practical as they already come with zoning.

Aucor’s offering of two inner city redevelopments will prove to be interesting opportunities for bidders, he says.

The first of the buildings, in Commissioner Street, has easy access to the freeway and comes complete with a warehouse, factory and offices. The second building, in Main Street, is four storeys high and comprises a warehouse and office facilities.

Other properties on offer include an executive residence on 15 Rockey Drive, Northcliff.

On sale in Weltevreden Park are several brand new one- and two-bedroom townhouses at the Eagle Creek complex, as well as nine brand-new units in the Kenani Place complex.

In Pretoria, a well-positioned 3281m² retail outlet with offices will be offered on sale, as well as a retail opportunity in Carolina with two outbuildings, four shops and business 1 zoning.

An interesting lot on auction alongside these properties is an entire retirement village in Germiston. Other properties to be offered will be a guest lodge site in Krugersdorp, a poultry farm with an abattoir in Mpumalanga, as well as a trucking yard with a depot.

“The auction promises buyers the perfect opportunity to purchase exceptional property at the right price,” says Paul Winterstein.

The auction will be held on Wednesday, October 15, at 10.30am at the Inanda Club, Forest Road, Sandton.

Last modified on Wednesday, 18 June 2014 15:05

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