In line with this demand, a tenanted industrial property in Techno Park, comprising office, warehouse and industrial space, achieved R16 million on the fall of the hammer.

Comments Gareth Currie of Auction Alliance, “The auction was well attended with several investors and owner occupiers competing furiously”.

The property is situated at 13-15 Agric Street, and enjoys excellent exposure from Vanguard Drive.  The property extends over an approximate GLA of 3000m², and is currently tenanted by AAD Nissan until 2012, with a one year option to renew. It produces a gross annual income of R1, 646.028, and features ample parking.

 “Well located properties with good covenants continue to achieve top prices on auction floors across the country, and the price achieved for this property, which was well above market expectations, reinforces this demand”, he adds.