Landmark Jhb buildings on auction 24/8

A diverse array of assets, some of which are landmark buildings in the Johannesburg CBD, will be coming to the auction floor at noon on Tuesday 24 August 2010.

“Historically, the Johannesburg CBD is always the place where investment starts when the market turns,” says Eli Unterslak, Business Development Manager for Savile Row Auctions.

The properties on auction include the following:

Dorchester House - 75 Rissik Street

Dorchester House was designed in 1931 by J. C. Cook & Cowen and named after a fashionably grand hotel being built at the same time in London. The initial idea was to attract wealthy tenants. This exhibition style Art Deco building boasts a Johannesburg City Heritage plaque.

The property is within walking distance of the Johannesburg Railway Station as well as the centre of the Johannesburg CBD. The property falls within Johannesburg's Urban Development Zone (UDZ) and as such, the new owners could qualify for certain tax incentives. The incentive is available to investors in the form of a significant depreciation allowance for refurbishment and new building development.

The immediate neighbourhood comprises a combination of older buildings as well as modern developments and redeveloped properties. Most buildings offer retail accommodation on the ground floor with offices and/or residential accommodation on the upper floors. The property is also located in close proximity to a number of office blocks housing the Gauteng Provincial Government as well as leading financial institutions.

The ground floor offers retail space as well as the entrance to the apartments on the upper floors. Currently, the retail space is occupied by a number of tenants. Storerooms and strong rooms are provided in the basement, which is accessible from the entrance hall. Residential apartments are situated on the next ten floors and staff accommodation is available on the roof of the building.

The upper floors are not occupied and suitable for redevelopment.

Atkinson House, 35 Eloff Street Marshalls Town

Atkinson House at 35 Eloff Street in the Johannesburg CBD’s Marshalls Town is located on Eloff Street, which is a busy arterial road leading into the CBD and the nearby M2 freeway.

Atkinson House covers an entire city block with eight erven and is surrounded by properties which include various upgraded high-rise office buildings as well as retail outlets and residential flats. The area is occupied by a number of national tenants and is located in close proximity to the Carlton Centre and the banking hub.

This building in a step-up architectural pattern has 10 floors which are lettable. Additionally the property has three levels of basement floor parking. The entire building is earmarked for redevelopment and inner improvements, dividing walls and finishes have been removed with only the lift shaft, staircases, outer shell and roof remaining.

The building is zoned for Industrial 1.

Letsema House – 30 Eloff Street

Letsema House at 30 Eloff Street comprises four erven and two buildings and is zoned for Industrial 1. The first building faces Eloff Street and houses a four-storey building located on three erven (Erf 740, 741 & 600).

The ground floor contains retail accommodation whilst floors one to three are well-suited for office use.

The basement parking has 61 bays and several storage areas. A lift and staircase provide access to all floors. All floors also have ablution facilities.

The second building is located on Erf 1205, consists of two storeys and shares basement parking facilities with building 1.

This building is suited for industrial use and has a vehicle ramp leading to the first floor as well as two lifts. This building also offers sufficient space for offices.

Barclay House - 70 Plein Street