Savile Row Auctions will be holding its last auction for the year at Summer Place in Johannesburg on the 26 November, starting at 10h00 with the residential property offering, followed by commercial properties at 12h00.

One of the highlights on this auction includes Town Square Lifestyle Centre in Richards Bay. The property is situated in Richards Bay on the corners of North Central Arterial, Krugerrand Street and Bullion Boulevard. The site is conveniently located within the periphery of the Richards Bay CBD and is bound by these three well-exposed streets providing easy access to the N2 route. The locality of this prime site affords it excellent exposure to passing trade. The property has been zoned for Zone L use for a Lifestyle Centre as already approved by the Development Tribunal on the 2 October 2009. The total site area is 90 185sqm with a GLA of 60 059sqm. The estimated annual income will be in the region of R6 million per month.

Mark Kleynhans, Managing Director of Savile Row Auctions says, "There has been significant development in Richards Bay recently with the completion of the Boardwalk Shopping Centre as well as other retail and commercial centres in the area. This property will offer the right investor and developer a unique opportunity to create a lifestyle hub in one of South Africa's up and coming regions."

Other commercial highlights that will feature on the auction include:

26 Forssman Drive – Kyalami

This highly visible multi-tenanted business park is 3469sqm and is divided into 15 units ranging from 75sqm to 525sqm. There is ample onsite parking and excellent security. This property offers a rental upside as well as sectional title opportunities. The property has a Current Gross Annual Income of R1,596,269.00.

676 Gallagher Ave – Halfway House

Conveniently situated across the road from the Gallagher Estate conference centre, this property has a site area of 5804sqm, with a total GLA of 3000sqm. Each of the 24 mini industrial units is 125sqm in size. The units are currently being rented at an average of R38.00 per sqm, but have the potential to achieve rental of between R45.00 – R50.00 per sqm. Current leases in place will escalate at 10% per annum. This property is ideal for the investor looking for a stable investment.

36 James Crescent – Midrand

This newly refurbished property offers 14 mini industrial units of 125sqm each. The site is 1750sqm in total and is fully let. With excellent exposure onto Pretoria Main Road this property is located just 20 metres from Boulders Shopping Centre. The property features an added benefit of an additional income stream due to the fact that there is an MTN mast on the site.

For more information contact Peter Voss on 082 442 1249 or Mark Kleynhans on 083 225 6995 or click here to visit the website.

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