Diverse multi-property auction on 25/3
10 Mar 2010
A selection of investment properties will be auctioned at a multi-property auction on Thursday 25 March 2010.
According to Paul Winterstein, Aucor’s property head, a variety of stock ranging from offices and a warehouse in Linbro Park, an exclusive day spa in Fourways’ Cedar Square or a country hotel, will be going under the gavel. He says that prices generally are around 20% less than they were two years ago, and buyers who are prepared to sit tight for the next three to four years will see excellent capital growth.
He believes one of the better deals on the day will be a neighbourhood shopping centre, located in Klipgat in the North West province. The centre is situated on the main arterial route running through the town of Klipgat, consisting of ten retail outlets, and is the only centre in the town with a large grocery outlet and post office.
Other tenants include a Shoprite USave (the anchor tenant), a furniture store, supermarket, funeral parlour, bottle store, clothing shop and a Nedbank ATM. Leases have recently been renewed and most run for another five years, with escalations of around 10% per annum. It has a gross lettable area (GLA) of 2,076sqm and provides a gross annual income of R886 117.
The auction will be held at 12:00 at the Inanda Club, Forrest Road, Inanda.
Anyone requiring more information on this, or the other properties up for sale, can log onto www.aucor.com or call Aucor’s call centre on 0861 28 28 46.
For more information contact Jennifer Stein on 011 237 4320 or send an email.
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