Gauteng auction round up

Posted On Tuesday, 13 September 2011 02:00 Published by eProp Commercial Property News
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Various commercial property assets and land will be amongst the quality lots on offer during the upcoming multiple auction event to be held in Sandton on September 28.

John HislopFirst-rate Ferndale offices:
The 5 storey prominently situated office block in the established commercial node of Ferndale is situated at 312 Kent Avenue, just off the busy Republic Road, and occupies a central, high exposure location within Ferndale’s established commercial node.

The property is surrounded by a number of commercial properties, and is well-situated within close proximity to the Randburg and Sandton CBD’s.

The property extends over an approximate GLA of 4,000m², and features ample parking in the form of 82 basement parking bays and 52 outside parking bays. The ground floor of the property hosts a reception area, and the remainder of the property features various sized offices which have been partitioned to suit tenant requirements.

The basement of the property offers 13 store rooms, which can be utilised as additional office space. The property is access controlled, and offers separate access and egress motorised gates. It has the potential to produces an estimated gross annual income of R2, 8 million. 

Comments Warren Aronson of Auction Alliance, “Due to rentals in Ferndale being half of what they are in Sandton, as well as the area’s close proximity to both the Sandton and Randburg CBD’s, well-situated office space in Ferndale, continues to offer investors excellent value”.
The auction takes place at 12pm at the Hilton Hotel, 138 Rivonia Road Sandton.

Shoprite anchor tenanted retail centre in Westonaria:
This Shoprite anchor tenanted retail centre located in the established residential node of Westonaria is well-situated on the corner of President Steyn and Botha Streets in Westonaria, which is located approximately 70 kilometres away from the Johannesburg CBD and 10 kilometres from Randfontein. The property is situated within close proximity to a host of amenities including the Westonaria SAPS and Fire Station. 

The single storey shopping centre extends over an approximate GLA of 6,948m², and features 17 retail units.  The property is mostly tenanted, and tenants include King Pie, Delmas Butchery, Ro-Cell Cellular, FNB Easy Loans and ABE Wheel and Tyre. The property produces a gross annual income of R3, 246,072.00.

Comments Daniel Treisman of Auction Alliance, “The centre services the surrounding catchment area, and produces a stable income stream, making it a solid investment opportunity”.
The auction takes place at 12pm at the Hilton Hotel, 138 Rivonia Road Sandton.

Two A-Grade office blocks in Sandton offering prime redevelopment opportunity:
The two adjacent and prominently situated A-Grade office blocks in Morningside, in the Sandton CBD, possess great development potential and will be sold vacant, and as one lot. 
Situated at 161 Rivonia Road, the properties occupy a prime, high exposure location within the heart of Sandton’s central business district, within close proximity to the busy Grayston/Rivonia Road intersection. The properties are situated within close proximity to a host of major businesses, hotels and retail facilities in the immediate vicinity including Investec, Sandton City, The Sandton Convention Centre, Nedbank and the Southern Sun Hotel.
The properties have been well maintained, and feature similar layouts. Both are double storey, include garden areas and offer basement parking.  The land size of the property is 4106m².
Comments John Hislop of Auction Alliance, “the property is ideally situated within the Sandton Development node, and offers the buyer good office accommodation with the ability to re-develop to end user requirements”.
The auction takes place at 12pm at the Hilton Hotel, 138 Rivonia Road Sandton.

Income generating retail centre, and bustling indoor flea-market in Vanderbijl Park: 
The single storey property is situated at 29 DF Malan Street, on the periphery of the Vanderbijl Park CBD, between Jan van Riebeeck Boulevard, DF Malan Street and Sydney Waterson Street.

The retail component is occupied by 2 established tenants, Drosdy Meubileerders, a furniture shop, and Cash Converters, both of which offer large display areas. The flea-market and entertainment area comprises a large, open-plan and air-conditioned retail area that has been converted into an indoor flea-market, and offers 138 individual stalls. The area also features a stage and hall for entertainment purposes.

The property extends over a GLA of 5418m², and generates a gross annual income of approximately R175 000.  “This is an ideal income-generating opportunity for the savvy investor”, says Jonathan Aitken of Auction Alliance.

Last modified on Tuesday, 10 June 2014 08:56

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