Hammer falls on 19 commercial properties

Posted On Wednesday, 06 September 2006 02:00 Published by eProp Commercial Property News
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Nineteen buildings came under the hammer at the Auction Alliance multi-property sale in Rosebank last Wednesday, where 50% of the sales were confirmed at the drop of the hammer.


Property-Housing-ResidentialFlagship of the auction was Dynamo House, at 130 Commissioner Street, Marshalltown.

The building, with a gross lettable area of 8,822m? earning a gross income of R960,000 a year, was sold for R11,850m.

Two buildings in Germiston were on offer: Frimida Court at 24 Selkirk Road, with 15 apartments earning a gross income of R258,000 a year, and the United Building at 177 President Street, with a gross lettable area of 1403m? earning a gross rental income of R59,140 a year.

The buildings were sold for R2,2m and R1m, respectively.

In Alberton, a retail centre on Clinton Road sold for R4,2m. A fully let industrial complex in City Deep fetched R9,1m.

Also in demand were two buildings in Braamfontein, which auctioneer Rael Levitt described as potentially the new central business district of Johannesburg. Office blocks at 40 and 42 De Korte Street sold for R7,5m and R1,45m, respectively.

An office and warehouse building at 37 Mopedi Road, Sebenza, described by Levitt as "a nice, clean, popular area" achieved a hammer price of R4,225m.

An industrial building at 44 Dawe Street, Troyeville, offering a gross lettable area of 1101m?, was sold for R1,8m.

Bidding was keen for two properties in Isando. A site at 4 Barbara Road, housing a BP garage, Imperial Truck Hire centre, filling station and retail shop sold for R6,25m, excluding the businesses.

Another site in Isando, at the corner of Foundry ad Isando Roads, consisting of seven warehouses, a development site and an Engen garage, was knocked down for R6,35m, excluding the business of the garage.

Last modified on Wednesday, 18 June 2014 14:41

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