Retail Property in Orange Grove up for auction

Posted On Wednesday, 13 July 2011 02:00 Published by eProp Commercial Property News
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A retail property, prominently situated along the busy Louis Botha Avenue, in the established residential and commercial suburb of Orange Grove, will be brought to auction by Auction Alliance

Property-Housing-ResidentialThe Commercial Multiple Auction takes place on Tuesday July 26.

The property fronts the bustling thoroughfare of Louis Botha Avenue, and as a result enjoys excellent exposure from the high volumes of passing vehicle and pedestrian traffic.

Its surrounding area includes various types of low rise commercial entities, residential flats and residential properties. The property is easily accessible via a number of main and secondary arterials including Joe Slovo Drive and the M1 and M2 Motorways. 

Grove Centre comprises a 3 storey building, with retail accommodation on the ground and first floors, and an office component on the second floor.  The property extends over a GLA of 1500m² and produces a gross annual income of R220, 000.

Comments Jonathan Aitken of Auction Alliance, “This property represents a prime example of the retail properties that are currently so sought after amongst investors, due to its high visibility location along the busy Louis Botha Avenue”.

The auction takes place at 12pm at the Hilton Hotel, 138 Rivonia Road Sandton.

Last modified on Wednesday, 11 June 2014 11:20

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