Auction Alliance's Gauteng round up

Posted On Wednesday, 21 September 2011 02:00 Published by eProp Commercial Property News
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A retail centre and residential flats represent some of the opportunites available to investors.

Property-Housing-ResidentialMulti-tenanted neighbourhood shopping centre in Pretoria:

Hatfield Corner, a conveniently situated and multi-tenanted neighbourhood shopping centre in Colbyn, Pretoria, will be brought under the hammer during next week’s multiple auction event on September 28.

The triple storey property’s prominent location on the corner of Church, Duncan and Thompson Streets, affords it with excellent exposure from passing traffic.  The centre is easily accessible via both the N1 and N4 Highways, and is situated within close proximity to various embassies and government buildings.

The centre extends over a GLA of 8, 358m², and includes various sized shops, offices and workshops.  The property features ample parking in the form of a covered double storey parking areas as well as a number of open parking bays.

The property produces a gross annual income of R 5,759,059.00. Tenants include Kevro, Avis Van Rental, JCN Motors, Mutual and Federal, Medipost courier pharmacy and Arthur Murray.

“On a national level, we are experiencing an increasing investor demand for quality retail investment opportunities”, says Andreas Greeff of Auction Alliance.

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

Braamfontein block of flats:

Representing a prime annuity income opportunity, the multi-storey block of flats in Braamfontein, which has been converted into an accommodation facility, will be offered during next week’s Commercial Multiple auction on September 28, and will be sold fully furnished.

The property is well-situated at 249 Smit Street, within close proximity to a number of amenities available in the CBD, including Johannesburg Station, Carlton Centre and Wits University.

The ground floor of the property includes a reception area, store room, laundry and entertainment area with bar and games room, whilst the first to sixth floors offer 47 en-suite rooms, which are rented out on a daily basis. All furniture and televisions were replaced prior to the 2010 world cup, and each unit includes a private balcony, and has been fitted with a bed, television and pedestals.

The property also offers one family room on the 5th floor, which includes 2 bedrooms, a kitchen and bathroom.  The property produces a monthly income of R155, 000.00

Comments Pieter Nel of Auction Alliance, “The recent rejuvenation of the Johannesburg inner city precinct, makes this property an ideal opportunity for investors to invest in the fastest growing rental market in Johannesburg. Furthermore, its location within walking distance of the Johannesburg Station enhances its income potential considerably”.

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

Fully let apartment block in Pretoria:

Troyedene Apartments, a well maintained and fully let apartment block in Sunnyside on the outskirts of the Pretoria CBD, will be brought to auction next week, during Auction Alliance’s monthly Commercial Multiple auction on September 28.

The three storey property is prominently situated at 143 Troye Street, a main road, and is within walking distance of the Unisa Campus, Pretoria CBD and the Pretoria University Campus.

The property, which was refurbished 2 years ago, is in an immaculate condition and features good quality finishes.  The property extends over an approximate GBA of 2,260m², and comprises 47 fully let units, of which 3 are one bedroom units and 44 are bachelor units.

The building also includes an administration office, 4 laundries and 25 onsite parking bays.  The property produces a gross annual income of R1, 560 000.00, and is well secured.

Comments Pieter Nel of Auction Alliance, “The property’s central location and rental growth potential, make it a highly lucrative annuity income opportunity”.

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

Last modified on Monday, 09 June 2014 16:59

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