A landmark shopping centre, the South Coast Mall in Shelly Beach will go under the hammer at Auction Alliance’s next commercial multiple auction on 23 November.
The 17.6 ha property hosts 37 000sqm of gross lettable area and is anchored by Game, Checkers, House & Home and Builders Express with other national tenants among the total of 88 stores.
The South Coast Mall which opened in 2005 after development costs of approximately R205 million is located on the lower south coast, servicing communities between the Eastern Cape and Southern KwaZulu-Natal. Ownership of the Mall is shared by Hyprop Investments and Redefine Properties who have chosen to auction the property in a bid to focus on their core assets.
The 17.6 ha property hosts 37 000sqm of gross lettable area and is anchored by Game, Checkers, House & Home and Builders Express with other national tenants among the total of 88 stores.
Strategically positioned between Marine Drive and the N2 freeway at the Shelly beach and Izotsha Road off-ramp, the location services a large catchment area and provides convenient access. The elevated position affords sea views from the restaurants along the al fresco dining deck, and high visibility from both the beachfront Marine Road and the N2 freeway.
Shelly Beach has become one of the fastest developing commercial and residential towns along the South Coast with an estimated R13 billion of commercial, industrial and residential developments currently in various stages of progress in the area.
The property is best described as a Shopping Mall as it offers a large internal central walkway, with Anchor tenants at either end and line shops running along the length of the mall. The retailers offer a wide variety of consumer goods and services, including apparel, furnishings, electronics, sporting goods, home & decor, hardware and specialty stores.
There is a centralised security room which manages the 24 hour security patrols and the CCTV cameras which cover all entrances and exits.
“This property represents a prime example of the commercial properties so currently sought after amongst investors due to its prime location, solid credentials and high yield potential”, comments Gareth Kitto, Regional head of Auction Alliance.
The auction will take place at 11h00 at the Oyster Box Hotel on 23 November.
For more information contact Rainer Stenzhorn on 082 321 1135 or Ryan Berry on 083 607 8128, send an email or visit the website.
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