Aucor will offer a portfolio of commercial and industrial buildings, with an estimated value of between R50m and R70m, at a multiple auction on October 26 at the Inanda Club, Sandton.

Schreiner Chambers is expected to attract special interest.

James Dall, CE of Aucor's property division, says Aucor managed to secure the portfolio of properties in a market where quality investment properties are hard to come by.

Many of the properties on auction have become too small for the portfolios of large institutions who need higher value investments for their portfolios, making these properties available to smaller investors.

The 17-storey Schreiner Chambers, in Pritchard Street, Johannesburg, opposite the h igh c ourt, which has provided advocates' chambers for decades, has an estimated value of between R12m and R20m.

Dall says the Johannesburg legal precinct is being revived and it is a good opportunity to buy such a building at auction prices. Many advocates plan to return to central Johannesburg with offices near the high court but while keeping their Sandton offices.

The total lettable area is nearly 20 000m² and consists of ground floor shops and 16 storeys of offices. The average gross monthly rentals are R40,34/m².

Metcash warehouse in City Deep, described as a premium commercial property, is a large warehouse with a lettable area of 8 558m². Its sole tenant is Universal Product Network, the distribution subsidiary of Woolworths, whose lease expires in May 2006. The estimate price is thought to lie between R8m and R12m.

The historic building Bradlows Corner, on the corner of Rissik and Jeppe streets, is estimated to be worth R3m to R3,5m. All the shops in the two-storey building are let at a gross monthly rental of R65,94/m². The offices on the first floor are about 60% let.

"Being in the prime retail area of Johannesburg, there is a lot of interest in the building, which has Joshua Doore as a tenant."

A three-storey building, which houses a motor showroom with workshop and offices at 83 Main Street, Kenilworth, is fully let to tenants such as Barloworld Motor and Unitrans. The building is situated in a busy trading area and is regarded as a good investment property.

"Commercial rentals in the south of Johannesburg are proportionately lower, but that has to be tied in with the lower price. The building is excellent value at between R5m and R7m," Dall says.

A hi-tech storage building in Isando is available for immediate occupation. The building is situated on 7 869m² of land and the value is estimated at between R3,5m and R4,5m.

Of special interest will be the two properties being rented to Telkom. The combined estimated value of the buildings at 127 Samuel Evans Road, Aeroton, and at the corner of Main Reef Road and Granville Avenue, Robertville, is only R7m to R9m. Telkom leases the entire buildings.

The property boom in Midrand is expected to see competitive bidding for a two-storey retail and banking complex at Halfway House on the busy Old Pretoria Road opposite the Boulders Shopping Centre. The price is estimated at R2m to R2,5m.

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