Multi commercial property auction opportunity

Posted On Tuesday, 16 February 2010 02:00 Published by eProp Commercial Property News
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Aucor has a host of first class of properties lined up for what promises to be its most exciting property auction in two years, taking place on Thursday 25 February

Property-Housing-ResidentialAccording to Paul Winterstein, Aucor’s property sales director, the combination of quality stock, blue-chip tenants and a good spread of highly sought-after locations presents excellent opportunities for buyers and investors.  “The sellers understand the current market and they are willing to take serious offers for a selection of properties which show solid income streams translating into excellent investment opportunities.”

“We expect significant interest from buyers who are interested in good deals, and view this as the start of a renaissance in the commercial and industrial property sectors,” he adds.

A prime opportunity is an exclusive state-of-the-art day spa in Fourways to be sold as a going concern.  Located in an exclusive shopping centre, it has a significant existing client base and is outfitted with up to date equipment.  Its present lease has 2,5 years to run and the tenant has a five-year option for renewal at advantageous rentals.

Another proposition with excellent investment potential is a retail re-development in Lyndhurst.  The entire re-development is let with an anchor tenant holding a 10-year lease and letters of intent from well-known national fast food, consumer and liquor brands, and presents a unique opportunity.  The GLA of 5700m² includes ample parking (basement and above ground).  Development finance has been approved and a building contract is in place.
Some other properties which will come under the auction hammer on the day include:
• A prestige industrial warehouse in Linbro Park on 4040m² with a GLA of 2000m².  In immaculate condition, it has roller shutter doors.  The low-maintenance site has an income of R1,4 million per annum.
• A modern Rivonia office block in a prime location and in excellent condition on 6608m² allowing for ample secure parking.  A five-year head lease exists showing a nett income of R3 153 840 p/a which provides for an 8% escalation.
• A state-of-the-art Randburg office block with a GLA of 2900m² and 122 parking bays housing a call centre.  This solid tenant provides an excellent rental income.
• A fine industrial factory in Pinetown with a blue-chip tenant is zoned for light industrial use on 6975m² with a GLA of 4985m², and has 64 parking bays.   It is an excellent proposition, fully let, with a nett income of over R1,1 million per annum.
• A site with excellent investment promise is the Izintaba crocodile farm in Brits.  The 43,9 hectare farm currently operates as a crocodile farm.  It would be suitable for fish, chicken or mushroom farming, has an export-approved EU rated abbatoir, is suitable for exotic game and has various dams and reservoirs.
• Located only one kilometre from the Gautrain , this Pretoria office block in the heart of the CBD offers excellent opportunities to a buyer able to refresh this building.  With a GLA of 1486m² at present it has a number of month-to-month tenants in place.
• A seven-storey residential block in Berea, Johannesburg comprising 24 apartments and 13 rooms, has been well-maintained.   It is fully let and offers a good return.
•  Up-market offices and showroom on main road in Parktown North.   It has beautiful finishes and ample parking.  There is a top tenant with a three-year lease and a good income stream.
• An office block housing a parastatal tenant in Benoni Lake on 1140m² with a GLA of 445m², netting R420 000 per annum.
• A luxury apartment on Sandton’s Nelson Mandela Square with superb furnishings.  In a prime location and with a good rental, it comprises one bedroom, kitchen, open plan living area and a patio.
• Two office buildings in Sandown Estate, zoned business 4, with a combined GLA of 400m² and signage visible from a main road.  It has parking for 25 cars and 20 network points.  Ideal for an owner-occupier and has good rental potential.

The auction takes place on Thursday 25 February at 10:30 at the Inanda Club, Forrest Road, Inanda in Sandton.

Last modified on Wednesday, 11 June 2014 09:36
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