Anderbolt industrial property sold for R30 million

Posted On Tuesday, 29 June 2010 02:00 Published by eProp Commercial Property News
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The property, situated on the corner of Atlas and Paul Smit Roads, just off the N12 highway, was recently sold for a confirmed R30 million at the recent Auction Alliance Multiple Commercial Auction.

Property-Housing-ResidentialThe prime site in the heart of Anderbolt has a gross leasable area of 18 516m² (making the selling price per square metre R1620) and comprises an entire block of retail and industrial property.

A multi-tenanted retail and industrial park, the property is well located – with its retail component offering full exposure directly onto Atlas Road. The anchor tenants in the retail component include the likes of Standard Bank, Voltex and the Post Office.

In the industrial component, the anchor tenants comprise, amongst others, Bearing Man Group and G4 Securicor.
 
Warren Aronson of Auction Alliance comments: “This property will give the buyer a great opportunity to unlock value through possibly sectionalising the property, as there is a very high demand in the area for smaller industrial units''.

Anderbolt remains an exceptionally well established industrial area, with very low vacancies and high demand from owner-occupier-type tenants.
 
This Anderbolt property was one of a few impressive properties on offer on the auction floor, which showed the many international investors who were present that South Africa has plenty to offer.

Last modified on Wednesday, 18 June 2014 13:05

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