Tuesday, 03 March 2015 10:19

Aucor Property to auction regional retail shopping centres

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Aucor Property will hold its next commercial property auction on the 17th of March 2015 at the Park Hyatt Hotel at 12h00.

Umlazi

A total of 25 lots will come under the hammer on the day including a line-up of regional retail opportunities which will appeal to a large array of investors looking to expand their retail portfolios. Amongst the offering is a shopping centre and neighbouring petrol station located in Kwazekele in Port Elizabeth.

John Hislop, Business Development Executive of Aucor Property comments, “The two sites are situated adjacent to each other in the bustling township of iBhayi in Port Elizabeth and will be sold as two separate lots. The property is centrally located on Daku Road which is a main arterial running through the area and links iBhayi to the Motherwell area.  The iBhayi township is said to have an estimated population of 240 000 people who live, work and travel through the area daily.”

Hislop continues, “The Engen Petrol Station site is on a stand measuring 2,449m² and the sale of the property is for the land only. Currently there is a triple nett lease in place which runs until 2023 and generates a net income of R1.6 million per annum. The property itself is in a good condition having been recently renovated.”

“The Daku Shopping Centre is located next door to the petrol station on an erf measuring 7,837m² with a GLA of 4245 and is zoned for Business 1. There are a variety of leases in place with the anchor tenant being Shoprite Checkers who have a lease in place until 2021 with a 3x 5 year renewal option.  The centre also features ATM facilities for all the major banks and has a Price n Pride as well as a fashion outlet store and has ample on-site parking. The gross income of the property is 5.4 million per annum.”

“With excellent foot traffic and passing trade opportunities coupled with long term blue chip tenants in place, the property presents a good investment opportunity for a buyer looking to have a presence in the Port Elizabeth region.” In addition to this there is a multi-let retail centre located in Umlazi which will come under the hammer.  Situated next to a Shell Petrol Station in Umlazi at 238 Maurice Gumede Drive, the property has ideal fronting onto the M35 which is a major arterial route that links the industrial hub of Prospecton to the southern sections of Umlazi and into Folweni.

This mixed use property sits on an erf measuring 3,382m² and is a dual level retail centre. The lower ground floor level is 531m² whilst the upper ground floor level us 1,535m² with a total building area of 2,566m². Hislop concludes, “Shoprite U-Save is the anchor tenant on the property and have a long term lease which is up for renewal in 2020.  In addition to this, the centre has a Build Africa, various ATM facilities and a hardware store for shoppers.

For more information on these properties please call John Hislop on 083 265 6867 or visit www.aucorproperty.co.za

Last modified on Monday, 09 March 2015 17:28

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