Many Witbank properties on auction

11 May 2010

An upcoming multi-property auction will feature a wide range of properties in Witbank/eMalahleni.

According to Aucor’s director of property, Paul Winterstein, economic progress has been strong and the area is acknowledged as the fourth biggest growth point in South Africa. As the energy centre of South Africa, it is the focal point of Africa’s largest coalfields, power stations and steel manufacturing.

Winterstein further explains that the region’s current standing as a leading economic centre will be bolstered in the next few years by major infrastructural developments, such as several mining endeavours and Kusile, Eskom’s new power plant, an R80bn project set to last until 2017.

It will fuel additional demand for homes in the area with some 15,000 new employees expected to relocate to the area. An additional two power stations have been planned for the area and two mothballed stations were recently re-commissioned.

Winterstein says the River Crescent Mall and Arcade is located within Modelpark with direct exposure and access to Mandela Drive. The centre houses blue chip national tenants and multinational franchises.

Comprising over 27,000sqm, it is home to the likes of Waltons, Rochester, Wetherlys, Osiers, Hi Fi Corporation, Tile Africa, Mica, Planet Fitness Mega and Mega Friendly. It currently has income of approximately R20m per annum.

The next option is Corridor Hill, comprising 19 vacant stands ranging from 1,955sqm to 6,600sqm, zoned as “Residential 3-4”, “Hotel” and “Special”. All services have been installed with and a large scale development is at an advanced stage on neighbouring stands.

Lahleni Lakes Golf Estate and residential development comprises 1,130 hectares of prime real estate. Located in close proximity to Witbank CBD, Highveld Mall, River Crescent Mall and with easy access to the N4, the estate will have direct access from Mandela Drive. It boasts an Ernie Els-designed golf course.

Lastly, several units will be sold in Platinum View, a residential complex. It comprises 33 fully let two-bedroom apartments. Located within one kilometre of the CBD and accessed from Mandela Drive, the units are close to the major commercial, educational and retail centres of Witbank.

The auction will be taking place on Thursday 20 May at 12:00 at the Inanda Club, Forrest Road, Inanda, Sandton.

For more information contact Grant Stockdale on 082 850 5175 or click here to visit the website.

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