Property Fund to dispose five properties via auction

Posted On Tuesday, 11 June 2013 09:57 Published by Commercial Property Auctions
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On 20 June, five commercial properties belonging to a listed property fund will be taken to auction following a portfolio adjustment. 

Aucor Property AuctionsThe five properties, non-core assets belonging to the JHB based listed fund, are a collection of four retail buildings and a fellowship centre situated in the Western Cape areas of Delft, Delft South, Khayelitsha, Blue Downs, and Mfuleni. All properties are to be sold with triple nett leases in place.

Comments Mark Kleynhans of Aucor who will be taking the properties to auction, ''We were approached by the listed property fund to take these properties to auction as they no longer formed part of their core assets.

Four of the properties operate as retail stores with Masscash (Pty) Ltd (part of Massmart Holdings) and Spar being the anchor tenants. All the stores also have leases in place for a number of ATMs which are present within each store. We expect good interest in each of these properties due to the high levels of passing trade and the fact that the local communities rely on them for supplies.''

In Blue Downs, a retail property situated at 3 Silversands Road will be taken to auction. The property, with an erf size of 2,328m² and GLA of 1091m2, currently consists of a single retail store featuring a large open shop area, small bakery and butchery area, toilet facilities, staff canteen, manager's office, storage area and cooler room. The property features an ATM attracting additional traffic.

The second property on offer, a retail building on 2,223m² with a GLA 1097m2 in Mfuleni, supplies the main needs to the local community and has high passing traffic. As with the properties in Blue Downs and Delft, the building comprises a butchery and bakery area, cooler room, toilet facilities, staff canteen, manager's office and large storage areas. The property also features two ATMs and a central air-conditioning unit.

In Khayelitsha, a building on an erf of 1,888m² and situated in the suburb of Driftsands, will be taken to auction. The property was originally a retail store but was later converted into a community church featuring a large hall, reception area, lounge area, air conditioning, board room, storage and toilet facilities, counselling area, office space and a kid's area. The property is in excellent condition being renovated in early 2013.

At 518 Main Road, Delft, a property of 2,275m² with a GLA of 1103m2, currently tenanted by Spar, will be offered on the auction floor. This retail property features a butchery and bakery area, cooler and freezer rooms, toilet facilities, staff canteen, manager's office, large storage areas and three ATMs (one inside and two outside). The property is situated along Delft Main Road which is the main thoroughfare through the area.

A fifth property, also in Delft, is situated on the town's Main road in an area of high traffic. The property comprises a single storey retail store, occupied by "Saverite Supermarket", a large open shop area, with a small separate bakery area and a small separate butchery area. The butcher area has its own cooler and freezer room. At the rear of the building is an ablution and canteen facility for the staff. In front of front of the shop is the manager's office. On the side of the shop area is a large storage area with cooler rooms. There is a mobile ABSA ATM inside the shop and a Standard bank ATM's situated outside.

The auction will take place at The Pavilion Conference Centre, Clocktower Centre, V&A Waterfront, Cape Town at 12pm on Thursday 20 June 2013.

For more information please contact Jason Poultney on 084 404 1010 or This email address is being protected from spambots. You need JavaScript enabled to view it.. Visit www.aucor.com for more information.

Last modified on Tuesday, 11 June 2013 13:21

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