Neighbouring Hillbrow properties up for auction

Posted On Tuesday, 08 March 2011 02:00 Published by eProp Commercial Property News
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Two neighbouring Hillbrow properties will be sold on auction on March 22.

Property-Housing-ResidentialHillbrow, an inner city residential neighbourhood of Johannesburg, is situated within close proximity to Braamfontein, Parktown and Berea and is easily accessible via the M1 Highway, Louis Botha Road and Empire Road.

Most buildings in the Hillbrow area are high-rise residential blocks with retail space on the ground floor. The few commercial buildings available are highly sought after and have been earmarked for redevelopment due to the demand for residential property in the area.

Uno Court, situated at 24 Goldreich Street, is a 14 storey apartment building with basement space.  The property is split into two free standing buildings, the first consists of an entrance leading to the basement parking and rooftop laundry lines and the second comprises flats only.

The residential component of the building consists of 53 one bedroom apartments, 12 two bedroom apartments and 19 bachelor apartments.

Both buildings have 24-hour security-controlled access and are well maintained.

Roseneath Mansions is a seven storey apartment building extending over a site area of 496m² and is situated on the corner of Goldreich and Quartz streets. 

The ground floor contains two retail units and the residential component comprises 28 one bedroom apartments, 10 two bedroom apartments and 18 bachelor apartments.

Comments Gareth Botha of Auction Alliance, “These properties, situated in the central area of Hillbrow, represent solid investment opportunities as a result of increasing demand for residential space in the area and the good condition of both buildings.

The plans in recent years to rejuvenate the Johannesburg inner city make this an ideal time to invest in the area.”

The auction takes place at 12pm at the Hilton Hotel, 138 Rivonia Road, Sandton.

Last modified on Thursday, 12 June 2014 10:52

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