Retail centre up for Auction

Posted On Monday, 30 July 2012 21:32 Published by eProp Commercial Property News
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One of the highlighted properties that will go under the hammer at The High Street Auction Company's next multi property auction event is the Mokopane Shoprite Centre, located at the corner of Pretorius Street and Nelson Mandela Drive, Mokopane.

 

Property-Housing-ResidentialCnr. Pretorius Street and Nelson Mandela Drive is located in the heart of Mokopane’s bustling trading area. Shoprite Checkers (Pty) Ltd occupies the majority of the 12,263sqm premises, and has recently renewed its triple net head lease over the entire centre.

The remainder of the retail space is currently sub-let to a host of high profile tenants, including OK Furniture, Capitec Bank, Multiserv, Town Talk Furniture, and King Pie, amongst others. Instruction for the auction of the centre comes from one of South Africa’s leading financial services groups, who are the registered owner of the property.

Entrance to the centre’s parking area is via Pretorius Street, and leads into a large parking lot that is able to accommodate approximately 200 vehicles.

A formal taxi rank that transports passengers to surrounding towns sits alongside the parking area and, according to Albert Mokgokolushi, Manager of Hungry Lion Takeaway’s that has been trading in the centre for over 10 years, generates an enormous amount of additional trade.

Mokopane is situated in the Limpopo province, just two hours from Gauteng. The town is both a getaway destination and a stop-over for travellers en route to Botswana, Zimbabwe and the Kruger National Park, making it easily accessible for both commuters and travellers.

The area is one of South Africa's richest agricultural regions, producing wheat, tobacco, cotton, beef, maize, peanuts and citrus, while it is also rich in mineral resources, with platinum, diamond and granite mines within close proximity of the town. Farming was formerly the chief economic activity in the area.

However, Anglo American’s platinum mine is now the biggest contributor to Mokopane’s economy.The auction will be held on 15 August, 2012, at Summer Place in Hyde Park, Johannesburg.

Last modified on Friday, 30 May 2014 15:38

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