Anderbolt industrial property sold for R30 million

Posted On Tuesday, 29 June 2010 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

The property, situated on the corner of Atlas and Paul Smit Roads, just off the N12 highway, was recently sold for a confirmed R30 million at the recent Auction Alliance Multiple Commercial Auction.

Property-Housing-ResidentialThe prime site in the heart of Anderbolt has a gross leasable area of 18 516m² (making the selling price per square metre R1620) and comprises an entire block of retail and industrial property.

A multi-tenanted retail and industrial park, the property is well located – with its retail component offering full exposure directly onto Atlas Road. The anchor tenants in the retail component include the likes of Standard Bank, Voltex and the Post Office.

In the industrial component, the anchor tenants comprise, amongst others, Bearing Man Group and G4 Securicor.
Warren Aronson of Auction Alliance comments: “This property will give the buyer a great opportunity to unlock value through possibly sectionalising the property, as there is a very high demand in the area for smaller industrial units''.

Anderbolt remains an exceptionally well established industrial area, with very low vacancies and high demand from owner-occupier-type tenants.
This Anderbolt property was one of a few impressive properties on offer on the auction floor, which showed the many international investors who were present that South Africa has plenty to offer.

Last modified on Wednesday, 18 June 2014 13:05

Most Popular

Balwin's Munyaka registers record R850 million in opening weekend sales, selling 555 apartments

Mar 09, 2020
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Balwin Properties and ABSA launch South Africa’s first green home loan

Mar 13, 2020
Apartment 71933
JSE-listed Balwin Properties Limited (Balwin Properties or the Company) and Absa Group…

Growthpoint reports a steady first half with its growth strategies paying dividends

Mar 11, 2020
Growthpoint Properties Group CEO Norbert Sassee
Growthpoint Properties (JSE: GRT) reported distributable income growth of 2.2% to R3.2bn,…

Spear REIT launches innovative self-isolation campaign for returning travellers in Cape Town, South Africa to combat COVID-19:

Mar 18, 2020
Double Tree Op
JSE listed Spear REIT Limited, the owner of the Double Tree by Hilton Cape Town, is the…

Financial Fitness – Is this the right time to buy property?

Mar 20, 2020
Governor Lesetja Kganyago SARB1
With the South African Reserve Bank’s announcement of interest rates cut of 100 basis…

Please publish modules in offcanvas position.