Aucor Property brings R200m portfolio to auction

Posted On Tuesday, 01 October 2013 17:38 Published by Commercial Property News
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The Aucor Property team is bringing a portfolio of 32 properties to auction over the coming 2 months valued at over R200m.

Cnr Duncan and Main Road, West Porges, RandfonteinAucor Property have announced that its upcoming October multiple commercial auction to be held on the 9th of October at 12h00 at the Park Hyatt in Rosebank will feature a large array of properties from a diverse portfolio being sold by the Midlands property Group.

Jonathan Aitken, Business Development Executive comments, "The Aucor Property team is bringing a portfolio of 32 properties to auction over the coming 2 months. The combined value of these individual lots has been estimated to be in the region of R200 million, making this one of the largest portfolio's to hit the auction floor to date."

Aitken continues, "Due to the sheer size of the portfolio we have had to split it over our October and November multiple auction events and have done so according to the location of the properties. The portfolio consists of 3 distinct areas, namely the Northern Portfolio which features properties located in the Johannesburg CBD in the heart of the retail district in Small and Bree streets, including the Small Street Mall, which draws some of the highest per/m2 rentals on the continent."

"The Southern Portfolio is made up of a cluster of buildings to the south end of the CBD most of which have historical significance, including Victory House in Commissioner Street and the Meischke building situated on the corner of Harrison and Market Streets. The Northern and Southern portfolio's will come under the hammer on the 12th of November 2013."

"The remaining portfolio which consists of 11 lots of quality industrial and commercial space in Fordsburg as well as the OK Furniture building in Randfontein will be auctioned on the 9th of October 2013."

OK Furniture, corner Duncan Street & Main Road (R28) - West Porges, Randfontein
Situated in the heart of the Randfontein CBD on an erf measuring 1,510m2 with a GBA of 1,424m2, this building is zoned for Business 1. The building itself is divided into 2 main shopping areas both of which as currently tenanted. OK Furniture occupies the majority of the floor space which features retail shop space, storage areas, ablution facilities and a staff area. This tenant has recently renewed their lease which is in place until 2018.

The second smaller store has a month to month tenant.

310 Main Road, Fordsburg
310 Main Road comprises of 4 erven with a combined size of 1,318m2 and is zoned for Industrial 1. The property which has an approximate GBA of 1,185m2 features a building divided into 3 retail warehousing sections, two of which face Main Road which is a busy arterial through this bustling hub, with the remaining section facing Nursery Road. The building also has a retail area, storage space and ablution facilities.

Last modified on Thursday, 29 May 2014 17:09

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