R75,5m for Roodepoort’s Clearwater Mall

Posted On Friday, 05 June 2009 02:00 Published by eProp Commercial Property News
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A complex of four apartment blocks and the Primrose Hotel were among the other attractions.


“There was a great deal of interest in the mall and although the price was less than expected, it was in keeping with the market,” CEO James Dall said.

The mall has six fully let retail units has a total gross lettable area of 10091m² on a 24622m² erf.

The units, sold separately to individual buyers, house national tenants such as Meltz Mega Furniture Store, Furniture City, Beds for Africa and Rochester Furnishers. The complex earns a basic rental of R750938 a month.

A fully let complex of four apartment blocks on a 1190m² erf in Benoni — offering 49 two- and three-bedroom units with a gross lettable area of about 85m² each, and bringing in a gross income of R131386 a month — achieved a hammer price of R9,78m.

“There was a great deal of interest in the complex, but the price fetched was less than we expected,” Dall says.

The three-storey Primrose Hotel, with 28 rooms and two adjacent houses, were sold for a total R6,325m, a price Dall says should be accepted by the seller. The hotel was sold fully equipped.

Bidding opened at R5m for a 1000m² mansion with five en-suite bedrooms in Chartwell, which fetched R7,5m. Amenities include an entertainment room with bar and wine cellar, a 14-seater air-conditioned cinema with balcony, a Jacuzzi/ steam room, walk-in cupboards and a gym. “I think we got a good offer and the sale should go through,” says Dall.

In Village Main a warehouse with A-grade offices with a gross lettable area of 3425m² fetched R6,5m, and a pub and flats in Koedoespoort R1,15m. The latter was sold as a going concern.

Two adjoining buildings on Hulbert Street New Centre drew a knockdown price of R1,875m. The total gross lettable area is 5940m² on a 1610m² stand. In Brentwood Park, Benoni, 4ha of industrial land fetched R2,7m.

A warehouse and offices in Wynberg sold for R3,75m. The three-storey building on a 7433m² stand has a gross lettable area of 6653m²

A factory with offices in Waltloo with a gross lettable area of 950m² fetched R1,55m, and a four bedroom house with four bathrooms in Vanderbijlpark R1,7m. The latter, in the Emfuleni Golf Estate, has three reception areas, a swimming pool and entertainment area.

Two hectares of development land in Bredell attained a hammer price of R1,25m.

Last modified on Wednesday, 18 June 2014 18:55

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