Diverse commercial proeprty up for auction

Posted On Sunday, 14 March 2010 02:00 Published by eProp Commercial Property News
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A selection of first-rate investment properties will be auctioned at Aucor’s next multi-property auction, scheduled for 25 March

Darren WintersteinAccording to Paul Winterstein, Aucor’s property head, buyers can choose from a variety of stock ranging from offices and a warehouse in Linbro Park,an exclusive day spa in Fourways’ Cedar Square or a country hotel.

“We have accumulated a diverse range of investment properties, all with solid investment potential, so buyers can pick from a number of good deals.”  He says that prices generally are around 20% less than they were two years ago, and buyers who are prepared to sit tight for the next three to four years will see excellent capital growth.

He believes one of the better deals on the day will be a neighbourhood shopping centre, located in Klipgat in Northwest province.   The centre is situated on the main arterial route running through the town of Klipgat, consisting of ten retail outlets, and is the only centre in the town with a large grocery outlet and post office facility.  Other tenants include Shoprite USave (the anchor tenant), a furniture store, supermarket, funeral parlour, bottle store, clothing shop and a Nedbank ATM.   

Leases have recently been renewed and most run for another five years, with escalations of around 10% per annum.  It has a gross lettable area of 2 076m² and provides a gross annual income of R886 117,00.


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