“At the last two auctions we have experienced an increase in confirmations of transactions before or on auction days - the main reason being that sellers are becoming more realistic in terms of market-related expectations.
“As the economy becomes more constrained for multiple reasons, these opportunities will begin to surface. What may seem expensive and a difficult decision to buy property in this economy - it doesn’t take a lot for market sentiment and conditions to change and then for commercial property to find some real growth again. The buyers are still here, however they are investing their money wisely and prudently.
“I firmly believe that it is never the wrong time to buy good properties. Over time properties always increase and it is the one asset that will always retain an inflation hedge. Our advantage is that we are well positioned and have direct access to the current property market to know what is being sold and what yields are being achieved.”
Among others on offer at Broll Auctions and Sales next auction at 12h00 on Tuesday 2 August 2016 at the Wanderers Club in Illovo, Johannesburg, are three prime located properties in Meadowdale in Germiston, Gauteng. Fully tenanted, these are listed fund disposals strategically well positioned with easy access to the N12, R24 and N3.
The first opportunity comprises two retail properties being sold together and consisting of an automotive retail property - Greenhills Centre, with a GLA of 1 913sqm, and Northreef, which comprises warehousing and offices with a GLA of 2 178sqm. With ample parking and a national anchor tenant, Supa Quick, this offers an ideal redevelopment opportunity for the investor with vision.
Also situated with convenient access to major routes, the second opportunity comprises offices and warehousing with a GLA of 13 705sqm in Meadowbrook Road.
Other properties which go under the hammer are located in prime hubs around the country and offer an interesting mix of investment properties with sound potential, including retail, office, industrial and residential accommodation, as well as a conversion opportunity and restaurant premises.