Fully tenanted Douglasdale Village Shopping Centre up for Auction

Posted On Wednesday, 19 February 2014 18:29 Published by
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Aucor Property has announced that its next Johannesburg multiple commercial auction event will take place on the 13 March 2014 at 12h00 at the Maslow Hotel in Sandton.

Douglasdale Retail

The auction will feature a total of 29 quality commercial, industrial and retail properties that have a combined estimated market value of R400 million.

John Hislop, Business Development Executive for Aucor Property comments, "Headling this particular event is a prime retail offering located in the well-established residential hub of Douglasdale in Johannesburg's northern suburbs.

Douglasdale Village Shopping Centre is located on the corner of Leslie Avenue and Douglas Road in Douglasdale.

Both roads are main arterials that run through the suburb connecting Dougalsdale to Fourways, Lonehill, Bryanston and Northriding.

The area itself has seen tremendous growth in recent years and the retail centre is surrounded by many cluster and townhouse developments which drive high volumes of traffic into the centre."

Developed on 1.54 hectares of land, the centre is well laid out in a convenient u-shape design with an open parking lot area occupying the core of the property.

The centre features a total of 288 parking bays which are spread over the open area lot as well as a basement parking facility.

In addition to this the property houses a separate restaurant building that is currently tenanted by the well-known Hogshead brand.

Woolworths is the anchor tenant on the property and recently acquired additional space in order to increase their store size to 1000m2.

Woolworths also has its own secure loading area for deliveries which minimises any inconvenience to other tenants and shoppers.

Other well established tenants include Clicks, Nino's, DIY Depot, Nando's, Sorbet and legendary The Throbbing Strawberry.

Hislop concludes, "Whilst we have seen numerous retail centres coming to the market over the past months, it is rare for such a well located centre that is fully tenanted with leading brands on long term leases to be on the market and this provides an rare opportunity for investors looking to grow their retail portfolio with a well performing and established centre in such a desirable location.

Currently the centre generates a lease income of over R8.5 million per annum making it a very viable investment for the right buyer."

Last modified on Monday, 24 February 2014 07:32
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