THERE is a significant and growing market for commercial buildings in the black areas of old, says Bertie Saunderson of Park Village Auctions.

It is against this background that Park Village brings to the market a retail service centre at 357 Hlatshwayo Street, Orlando East, Soweto, on Wednesday, at an auction at 10am. Viewing is on the same day from 9am.

The property has an established tenant base with a good rental income. The property is in good condition and will be sold with all stock, equipment, fixtures and fittings in place.

Saunderson sees this as an opportunity for an aspiring entrepreneur or investor.

“We all know the history of Soweto. What many perhaps are not aware of is that it is today one of the more affluent former ‘townships’ with a well-established infrastructure including some decidedly affluent homes, extensive shopping centres, good schools and other facilities and even a proposed golf estate.

“There’s also the ‘black diamonds factor’, a phrase that refers to SA’s 2,6-million-strong new middle class.

“The University of Cape Town’s Unilever Institute and TNS Research found that the average monthly household income of black diamonds is R12000 and that most (66%) are found in Gauteng.”

Business Day