Midrand property portfolio to go under the hammer

Posted On Thursday, 31 October 2013 12:26 Published by eProp Commercial Property News
Rate this item
(0 votes)

Two large Midrand properties belonging to a prominent property consortium will be taken to auction on Wednesday 20 November by Nexus Property Group.

Constantia Square, Midrand

The auction comes as the result of a restructuring of the property portfolio with the two commercial properties no longer forming part of the group's core assets. Both properties, situated in Constantia Square on 16th Road Midrand offer good income producing opportunities.

Building 1 Constantia Square extends over a GLA of 692m2 and is zoned general business. The building currently hosts four tenants and achieves a gross annual rental of R579 700.

Building 2 Constantia Square extends over a GLA of 748m2 and is also zoned general business. The building currently achieves a gross annual rental of R560 000 with the largest of the units having a lease in place until October 2016.

Comments Elias Tzouvanni of Nexus Property Group, '' The seller's expectations are realistic and offers value to either owner occupiers or investors."

Constantia Square Office Park is located in the heart of Midrand and is a low-riseoffice park set in a park like environment and is located less than 1km from the N1 offramp.

The auction will take place at the RadissonBlu Hotel, Sandton on Wednesday 20 November 2013 at 12:00.

Should you wish to receive more information about this property and the portfolio concerned, please contact Nexus Property Group on 021 418 3911, www.nexusproperty.co.za  or Elias Tzouvanni on 0761532352 or Greg Nafte 0834144474

Last modified on Thursday, 29 May 2014 17:05

Most Popular

Kommetjie master plan development on the cards

Jul 11, 2020
Cape_Farm_1529_Preferred_Layout
A new mixed use development is being planned near the landmark Imhoff Farm in Kommetjie,…

Redefine Properties appoints Diane Radley to board of directors

Jul 21, 2020
Diane_Radley
JSE-listed diversified Real Estate Investment Trust Redefine Properties (JSE: RDF) has…

Will the repo rate hold or fall? Experts divided

Jul 13, 2020
South African Reserve Bank
Experts are divided on whether the South Africa Reserve Bank (SARB) Monetary Policy…

Commercial Rental Market Survey sees declining market activity and rising vacancy rates in Q2 2020

Jul 10, 2020
John_Loos_fnb
In this report, we discuss the 2nd quarter 2020 results of the rental market component of…

Lower house prices in the Western Cape behind renewed interest from first-home-buyers

Jul 16, 2020
Carl Coetzee CEO of BetterBond
Property in the Western Cape is regarded by many as among the most expensive in the…

Please publish modules in offcanvas position.