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Two commercial buildings in Belville offer prime investment opportunity

Posted On Thursday, 04 August 2011 02:00 Published by eProp Commercial Property News
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Auction Alliance will take two income producing commercial buildings in Belville, comprising office and retail space, to auction during its upcoming Commercial Multiple auction.

Property-Housing-Residential

The properties are situated at 64 and 72 Edward Road, a popular road which flows parallel to Willie Van Schoor Avenue, and stretches throughout the Bo-Oakdale suburb of Belville.

Willie Van Schoor Avenue also intersects with a number of prominent arterials including the N1 Highway and Bill Bezuidenhout Avenue, affording the properties with efficient access to and from the Cape Town CBD. 

The central location of the properties provides them with excellent exposure from passing foot and vehicle traffic, and they are situated within close proximity to a selection of amenities including the Tygervalley and Willowbridge Shopping Centres, Bellville Velodrome and the Belville Stadium.

The first building, Edward 11, extends over a GLA of 1,914m², and produces a gross annual income of R1, 493.013. The 3 storey property extends over an ERF of 32144, and features retail space on the ground floor, and office accommodation on the upper floors.

The retail space includes 4 independent commercial units which are currently tenanted by a night club, restaurant, hair salon and beautician respectively. The retail units offer private bathrooms and are in an excellent condition. 

The office accommodation comprises primarily of dry walling divisions, and his and hers ablution facilities are situated on both floors. The common areas of the property have recently been upgraded and create a high-quality feel. In addition, the property features ample parking in the form of 25 open covered parking bays, and 25 perimeter onsite bays.

The second building, Edward 111, extends over R2, 378 m² and produces a gross annual income of R2, 042.25. The 3 storey property extends over an ERF of 33178, and also offers retail space on the ground floor, and office accommodation on the upper floors. 

The ground floor includes a single office unit, as well as 3 independent retail areas. The retail units include private bathrooms, and boast large windows, which enhances exposure to passing foot traffic. The office units above offer a similar floor plan and finishes to the offices in Edward 11. The property also offers ample parking in the form of 17 perimeter onsite parking bays and 45 basement level parking bays.

Comments Elias Tzouvanni of Auction Allliance, “In the current environment, prime commercial stock is scarce, and properties of this calibre are hard to come by. The prominent location and appealing yields offered by both, make their upcoming sale an excellent opportunity for potential investors. They must be sold on the fall of the hammer”.

Last modified on Wednesday, 11 June 2014 08:52

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