News: Landmark Newspaper House sold for R86million:
The landmark Newspaper House in the Cape Town CBD was sold last week by Auction Alliance for R86 million. The historic property was sold to Ingenuity Property Investments Limited, following Independent Newspaper’s decision to outsource the printing operation.
“Auction Alliance and the Independent Newspaper Group have had a strategic partnership for a long time, and is proud to have been involved in this historic transaction”, comments Ryan Joffe of Auction Alliance.
The site is steeped in history, and has been used for printing newspapers since the 1850’s. The heritage building, which was completed in 1936, is home to Independent Newspaper’s Cape print titles including the Weekend Argus, the Cape Argus, the Cape Times, the community papers and IOL.
The deal was concluded by Ryan Joffe and Gareth Currie, and is the second property that they have sold for the Independent Newspapers Group this year. The first was a warehouse in the CBD which sold for R18 million.
“This record transaction demonstrates the long-term value that the revitalisation of the city centre holds for investors”, he said.
Blue-chip tenanted industrial property in Blackheath:
This blue-chip tenanted industrial property in the established industrial node of Blackheath is leased to the Doka Group, an international tenant who has a long term AAA lease in place.
The property is centrally situated at 31 Saxenburg Road, and is easily accessible via various primary and secondary routes including the M12 Stellenbosch Road, the R102 Jan Van Riebeeck Road and the R300 Freeway which provides efficient access to the N1 and N2 National Roads.
The property extends over an approximate GLA of 1000m², and produces a gross annual income of R940, 896. Accommodation includes a primary warehouse and an associated office component. The remainder of the site offers good quality paved yard used for storage and operations.
Comments Andrew Cohen of Auction Alliance, “This is a first-rate opportunity for investors to purchase a prime industrial assert, which is leased on a long term basis to very strong tenants”.
The auction takes place December 6 at 12pm at the Crystal Towers Hotel and Spa, Century City
Boutique wine farm in Stellenbosch:
Eaglevlei Wine Farm, a boutique wine farm in Stellenbosch, will be sold as a going concern.
The property is prominently situated in the heart of the Stellenbosch Wine Region, a mere 35 kilometres from the Cape Town CBD.
The property features first-rate infrastructure and includes a 100 ton cellar, restaurant with fully equipped kitchen, art gallery, wine lounge, wine tasting venue, office building, and two residential loft apartments of which one has been converted into conference space.
The property is 8,06ha under vines and includes Pinotage, Merlot and Cabernet Sauvignon.
Comments Willie Van Rensburg of Auction Alliance, “This is an excellent income yielding opportunity for the wine connoisseur and entrepreneur, to acquire a functional wine estate in the heart of the Cape Winelands”.
The auction takes place December 6 at 12pm at the Crystal Towers Hotel and Spa, Century City.
News: Fully let Bellville property achieves R3.6 million before hitting the auction floor
A prominently situated and fully let apartment block in Bellville, which was scheduled to fall under the auctioneer’s gavel on November 22, was sold last week for R3.6 million before hitting the auction floor.
The 3 storey property is centrally situated at 223 Voortrekker Road, adjacent to the Bellville College, and enjoys quick access to the Bellville CBD. The property’s location along the Voortrekker Road corridor, places it within close proximity to a number of suburbs including Parow, Elsies River, Goodwood and Maitland.
The ground floor comprises retail space, and includes a food store, book store, bakery and liquor store. The first and second floors host a total of 10 apartments, of which 4 are one bedroom, 4 are 2 bedroom and 2 are bachelor apartments.
The property extends over an approximate GLA of 980m², and produces a gross annual income of R536, 428.00.
Comments Greg Nafte of Auction Alliance, “The property’s sale is a reflection of the current investor demand for well-let and income producing commercial assets”.
