Prime retail centre hits auction floor

Posted On Monday, 22 July 2013 18:30 Published by Commercial Property News
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Auction Inc’s much anticipated multi property auction will be taking place on the 15th August at  Houghton Golf Estate

Retail Centre on AuctionThe highlight of the auction is a prime retail centre situated on Republic Road in Randburg. The site measures 7500m2 and has a GLA of 2300m2. The shopping centre is anchored by Spar, Steers and the Post Office. 

The well-known centre is one of the busiest in the area with most of the tenants being in place for over 10 years. According to Ari Ben “a property of this nature is bound to attract a high volume of buyers due to the sound fundamentals of the centre; strong national tenants, long term leases and the high exposure the property experiences on Republic Road”.

The property generates a gross annual income of R4, 7m.  Another high exposure site on offer is a retail stand situated on Malibongwe Drive at the entrance to Strydom Park. The site is just under 4000m2 and is partially let by the Imperial Group. The property is ideal for a high end motor dealership and has the potential for a myriad of other retail applications. A large Billboard generates additional monthly income.There will be a large block of flats situated in Benoni going under the hammer. The apartment block consists of 49 units and is located around the corner from the Lakeside Mall.

One property sure garner interest is a fully let residential complex situated close to the East Rand Mall. The property consists of 9 x 2 bedroom units.

The simplex units are low maintenance and offers investors a passive investment with a reliable income stream. In Bryanston there is a prestigious office block with frontage on Main Road and easy access on William Nicol. The property measures 4000m2 with a GLA of 1100m2 and boasts 80 Parking bays.

The site is ideal for a corporate headquarters and has excellent signage potential. Other properties going under the hammer on the day include; two townhouses in Northcliff, an apartment block in Germiston, a mini factory complex in Aeroton, development land in Witpoortjie and a mixed property portfolio in Benoni. The auction commences at 12:00 with registration open from 11:00.

Last modified on Thursday, 29 May 2014 17:13

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