Nedbank Corner in Braamfontein to be auctioned

Posted On Wednesday, 03 April 2013 19:29 Published by eProp Commercial Property News
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Aucor Property has announced that the well known Nedbank Corner in Braamfontein will come under the hammer at its April Auction event

Property-Housing-Residential

John Hislop, Business Development Executive at Aucor Property comments, "Braamfontein as an area in its entirety is extremely buoyant and has seen much rejuvenation and interest over the past 12 months. The area is very cosmopolitan and attracts a diverse range of both people and businesses.

Braamfontein also houses a variety of restaurants, hotels, cultural offerings and offices and is a thriving hub of activity both during the week and on weekends. I firmly believe that this area is going to continue to grow in popularity and demand and as such any investor looking to appreciate their portfolio would do well to invest here."

Nedbank Corner is a well located on the corner of Jorisson and Bicard Streets and is a mixed use 14 storey office tower with substantial parking over 3 different levels. In addition to 11 floors of office space, the building has excellent street level retail opportunities which would appeal to tenants looking to capture passing trade from the surrounding area. 

Hislop continues, " This particular property is well known in the district and the demand for space in the building has always been high.

Currently Nedbank and RBA are the blue chip anchor tenants with Nedbank positioned on the ground floor and RBA occupying 6 of the upper floors in the building.

The current long term leases that are in place generate just over R200 000.00 in monthly rental income and with an additional 1222m2 of office space available on the upper floors and 300m2 of retail space available at street level, the building has the potential to generate an income of well over R300 000.00 monthly.

This is what makes this building such an attractive offering to investors looking to cement their Johannebsurg CBD portfolio with a stable income generating property."

Last modified on Monday, 12 October 2015 12:52

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