The property, situated on a prominent, high exposure corner position at 16 Fieldhouse Street, will be going under the hammer following a portfolio adjustment.
The property consists of 6 retail units, 20 residential units with parking and currently achieves a gross annual income of over R870 000. The retail units are a mix of doctors rooms, a security consultancy, cleaning services and various other companies.
Comments Elias Tzouvanni of Nexus Property Group, ''This property presents a fantastic income producing opportunity with the mix of retail and apartment rentals.
The position of the property is attractive for retailers with much passing traffic, and as such the space is in demand. A sectional title register has been opened.''
A retail property situated in Edenvale will also be going under the hammer, the property, with an erf extent of 1983m2, comprises of retail space with an adjacent warehouse.
The property, currently fully tenanted and achieving a gross annual income of over R660 000, has long leases are in place. The property has high exposure and is situated on a busy cross road.
The auction will take place at the Protea Hotel, corner of Corlett Drive and Rudd Road, Illovo on 09 April 2014 at 12pm. A selection of other properties will also be offered during this auction.
