No 9 Valleyview Road, a 5000m² commercial property, was sold for a remarkable R19.25 million last Wednesday. The warehouse, which is ideal for industrial operators, was sold on auction at the Durban Country Club on 22 July and the offer was accepted by the sellers the following day. The auction attracted numerous buyers with a lot of interest coming from the Gauteng Region.

The property generated a huge buzz both telephonically and via online hits comments Ryan Berry of Alliance Group: “We had a fantastic turnout at the auction with many bidders competing for a chance to get their hands on this fantastic opportunity on offer. It didn’t take long for intense bidder’s activity to erupt and at the end we were pleased with the result.’’

The neighborhood of the said property is well established and comprises of a mix of large scale industrial premises, light industrial, showrooms, and retails tenants. Numerous national and blue chip tenants occupy the node. The node is fully developed and vacant land is in short supply. This industrial area is highly sought-after and is considered prime industrial area.

Because industrial properties of this caliber are seldom on the market, they generate a great amount of interest. The site is 5000m² undercover and came with yard space of 11800m². It is difficult to find large warehouses that have equally large yard space. “We’ve learnt from this sale that there is incredible demand for 1000m² – 10 000m² warehouses,” adds Berry.

The property was purchased by a listed fund which has been looking for a property of this nature for the past year.