Kimberley properties on the market

Posted On Friday, 21 November 2008 02:00 Published by eProp Commercial Property News
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The Alliance Group is offering two prime Kimberley properties on auction on November 26 in Johannesburg.

Property-Housing-ResidentialThe first property is on Jones Street, the busiest intersection in the central business district.

Truworths, which contributes largely to the property’s gross income of about R1m a year, holds the lease on the ground until the end of October 2010.

The first floor is occupied by six flats. The total lettable area of this building is 1258m²

“Due to the shortage of accommodation in Kimberley, the owner of this property will not battle to fill these prime flats at any stage should they become available,” says Grant Stocks of Alliance Group.

The second building, near the city hall and old town square, is divided into two distinct sections: Grandhouse and Southey Chambers. The first- and second-floor offices of Grandhouse, and the entire Southey Chambers building, are occupied by the safety liaison department.

The ground floor of Grandhouse has retail space that leads on to Transvaal Road, a main arterial route into the city centre.

Retail stores include Pep stores and Town Talk, with leases expiring in September 2009 and June 2010 respectively.

An unusual feature is that this building has underground parking bays, a rarity in the city of Kimberley.

Southey Chambers, on the other hand, is a three- storey office building on Southey Street offering covered parking with access from Lange Street.

The two units make up a combined site area of 3852m², which is roughly one third of the city block, presenting a lettable area of 3350m²

The safety liaison department has a lease running in both sections of the building until the end of August 2010, generating a total gross income of R2,07m a year.

The auction takes place at the Sandton Southern Sun, on Grayston Drive.

Last modified on Wednesday, 18 June 2014 15:45

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