Buyers market still prevails

Posted On Thursday, 18 March 2010 02:00 Published by eProp Commercial Property News
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“It’s still a buyer’s market so bargain hunters should seriously consider property investment,” says Aucor’s property division head Paul Winterstein

Darren Winterstein“If investors are prepared to buy now with a view to holding onto their investments for another two to four years, we believe they will without doubt reap the benefits.”

He says there are a number of commercial properties which will be auctioned by Aucor at its next multi-property auction, and highlights two sales.

The first is multi-tenanted industrial premises with offices, situated in New Centre, Gauteng.  The 7946m² site comprises five erven with a gross lettable area (GLA) of 6033m².  It consists of four sub-sections, each with its own entrance and parking.  The property has been well-maintained and is located on a main arterial route to and from the M2 highway.  Current tenants, which all have industrial and office space, include Stanlic, a Bidvest subsidiary, Jasper Manufacturing and M&M Hiring, both of which are long-term tenants.  M&M Hiring is the largest tenant in terms of occupied space, and each tenant has a lease in place.  Net annual income is R1,7 million.  “This is a solid opportunity which is already generating a good return, and will sit well in a commercial portfolio,” says Winterstein.

He says another option for buyers to consider is an entire residential complex in Rant-en-Dal comprising 109 fully-let units.  “This is the most phenomenal opportunity currently generating a secure income stream.  Net monthly income is R350 000,00, which will certainly increase over time as the residential market firms.”

Winterstein says the 24 929m² site with a GLA of 11 424m² is located in a well-established residential area in the West Rand.  All necessary amenities such as retail, medical and educational are situated in close vicinity.  The complex itself boasts 109 residential units comprising 80 simplexes, 19 duplexes, 72 two-bedroom units and 35 three-bedroom units.  There is one four-bedroom and one one-bedroom home and each unit has its own garage, with open parking for visitors.  The property is well-maintained and thanks to its face brick construction, upkeep is minimal.  Other features are a communal pool area, children’s playground, club house and guarded access control.

Other properties coming under the auction hammer on the day include:

• Well-located A-grade offices and a warehouse in Linbro Park, with a GLA of 1804m². 
• Eight fully-let mini warehouses in Anderbolt, with long-standing tenants,e asy access to the N12 and with a net annaul income of R475 000.
• A residential conversion in Judith’s Paarl, zoned for eight units and with ample parking.
• An excellent investment option is a 600m² fitment centre and offices with a blue-chip long-lease tenant in Midrand.
• A top game farm in the Waterberg, which has abundant game.  The property includes a hunting lodge and abbatoir, on 1495 hectares.
• An exclusive day spa in Cedar Square, Fourways.  The business has state-of-the-art income, an excellent client base and generates an exceptionally high income.
• There are two guesthouses in Westdene, Benoni which are extremely well-located opposite the Benoni Lake Club.  The 3-star property offers 14 bedrooms and a conferencing centre.
• With 15 colonial double suites, a country hotel in Magoebaskloof presents an excellent investment opportunity.  The six hectare property boasts a picturesque house, conferencing facilities, a bar and two dining rooms.

 



Last modified on Wednesday, 11 June 2014 10:21

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