Sought-after property on offer in Ferndale

Posted On Friday, 07 August 2009 02:00 Published by eProp Commercial Property News
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Alliance Group will be selling Oak Park in Oak Avenue, Ferndale this month — this property is a well-maintained five-storey office block which is multitenanted and has a low maintenance exterior.

Rael Levitt Auction AllianceThe building offers about 5000m² of B-grade office space and is an ideal investment opportunity. It is situated on a corner stand offering high visibility on two main roads, Dover and Oak avenues. Oak Park has a vacancy of about 1150m² which may suit an owneroccupier wishing to occupy the vacancy immediately with a view to occupy the entire building as leases expire.

According to the 2008 Randburg Management District’s annual report, the vacancy rates have shown a steady and continuous decrease since the body was legislated in 2004 from 17,5% in 2005 to 6,8% in 2007.

Randburg’s land value has increased about 400% since the inception of the management body.

The latest Rode Report says that vacancies in the area for the fourth quarter of last year stand at 6,88% (according to the Office Vacancy Report compiled for SAPOA by IPD, the vacancy stands at 6.3% as at June 2009 - eProp).

As can be seen by the low vacancy rate, Randburg is a sought-after area as rentals are competitive and are available at a fraction of the cost of areas in close proximity, such as Sandton, Bryanston and Rivonia. Randburg offers good value and strong investment opportunities.

The Oak Park auction will take place on the August 18 at Sandton Southern Sun on Grayston Drive.

In another auction Alliance Group is bringing a number of KwaZuluNatal “eco-properties” to the auction floor this month.

Two eco-tourism opportunities are in the Ubizane Wildlife Reserve. This well-known estate is located adjacent to the world-renowned Hluhluwe and Umfolozi Game Reserve and between the N2 and the main Hluhluwe Game Reserve entrance.

The estate has two lodges, Zululand Safari Lodge and Zululand Tree Lodge, both of which are operated by The Three Cities Group.

The reserve is situated on 1200ha of game fenced reserve.

The Zululand Safari Lodge offers comfortable African rondavels looking up at the valleys and hills of Ubizane Wildlife Reserve. The Zululand Tree Lodge, in the heart of Zululand, is a special retreat with 24 luxurious stilted chalets.

Also on offer is the Canopy Lodge, situated in the Kuleni Game Reserve, a picturesque and relaxing getaway.

This potential sectional title development opportunity is a great income producing investment and covers 10ha. The Canopy Lodge offers beautiful sightings of many species of birds, big game and game fishing, as well as deep sea diving.

As it is located between Sodwana Bay and The Umfolozi Game Park, business and development opportunities are endless.

The auction is set to take place on August 20 at the Durban Country Club at 11am.

 

Last modified on Wednesday, 11 June 2014 18:00

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