Lenasia shopping centre up for auction

Posted On Thursday, 24 March 2011 02:00 Published by
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Auction Alliance will bring a popular Lenasia shopping centre to auction on April 14

Situated on Station Road in Lenasia, the centre enjoys excellent exposure to vehicle and pedestrian traffic due to its location across the road from the taxi rank. The centre services the surrounding residential node and is easily accessible via a number of main and secondary routes including the N12 highway and the R553. 

The property, divided into two sections, is separated by a park owned by the Gauteng municipality. The park consists of a stepped seating area, with the outer perimeter occupied by informal traders. It is the centre’s main thoroughfare and experiences a high volume of pedestrian traffic.

Extending over a GLA of 8522m², the property contains a good tenant mix, with Pick n Pay as its anchor tenant, and other national tenants including Capitec, Pep, Joshua Doore and King Pie. Section one hosts retail facilities with offices above. The offices are partitioned and can be altered if required, with certain sections being utilized as staff change-rooms and retail storage facilities.

Section two, the main section of the property, faces Station Avenue and the taxi rank and comprises office and retail facilities. In the retail component, there are 24 retail outlets, two of which are vacant, and includes office facilities on the upper floor, most of which are vacant. 

The property is well maintained and ample parking is available. The centre has on-site public ablution facilities and 24-hour security.

Comments Andreas Greeff of Auction Alliance, “The centre offers an exciting investment opportunity due to its easy access to main arterial routes, good position facing the taxi rank and solid tenant mix.”

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

Contact Andreas Greeff 072 118 7509 or email This email address is being protected from spambots. You need JavaScript enabled to view it.

Publisher: eProp
Source: AG

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