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Auction Alliance is set to take a landmark retail shopping centre with office space on Bruma Lake to auction in November.
 
Asia City is one of a small number of Johannesburg retail centres located alongside a body of water and it has made the most of its setting. The bulk of this multi-storey structure hugs a sizeable portion of the lake front and many of the shops are orientated to maximise their lake side vantage point.  
 
Asia City was built around 25 years ago by Oz Construction and offers a gross lettable area measuring about 7, 098m² on a gross land size of 11,944m².
 
The centre offers a combination of retail and office space and currently houses an eclectic mix of tenants, ranging from hair salons, furniture shops and cell phone distributors to security services, training academies and fleet services. A Portuguese restaurant and various Chinese eateries occupy the centre and a Caltex petrol station is located on-site. Parking is plentiful with nearly 400 parking bays available.
 
The centre enjoys a 70% occupancy rate, with rentals competitive compared to neighbouring facilities. It is patronised by all manner of shoppers, with the majority stemming from surrounding neighbourhoods.
 
“Commercial space in particular is at a premium in Bruma, thanks largely to its central locality and good transport links. If and when space does become available it is immediately snapped up. Asia City offers good redevelopment potential and has already been attracting significant interest” comments Gareth Botha of Auction Alliance.
 
The auction takes place at 12pm on November 24 at the Southern Sun Hotel, Cnr Grayston and Rivonia Roads, Sandton
 
For more information contact Gareth Botha on This email address is being protected from spambots. You need JavaScript enabled to view it. or 083 288 7778.
Publisher: eProp
Source: AG