Large properties to be auctioned at July event
Category Auction News
Following a successful Johannesburg launch event which saw an excellent turnout of buyers, supported by an 80% confirmation rate on the day, Aucor Property has announced that its next Johannesburg multiple auction event will take place at the Park Hyatt Hotel on July 24, when a total of 47 lots with an estimated market value of R190 million will come under the hammer.
The commercial auction event will start at 11h00, followed by the multiple residential portfolio.
Darren Winterstein, managing director of Aucor, comments: “Our launch auction was a strong one and confirmed the research that we had done into the market, which shows confidence and an appetite for property auctions.
The demand for good-quality properties at the right price should not be underestimated, and we are pleased to bring a versatile offering to the market in July, including 19 lots from a listed property fund, which will headline the auction.”
Some of the featured properties include:
ATLAS ROAD BANKING CENTRE
Situated on the corner of Atlas and Dunswart Roads, Anderbolt, in Boksburg, the Atlas Road Banking Centre is a double-storey building which is zoned for Industrial 3 and has a GLA of 3 202m².
The building has two principal banking tenants, Absa and First National Bank, and a retail facility consisting of three retail units located on the ground floor. The offices are located on the first floor.
The property is well maintained and has 77 parking bays for staff and customers.
Ideally located in Boksburg, Anderbolt is a well-established industrial node that is characterised by large industrial and warehouse-type properties, including Demag.
Atlas Road is the main road connecting the area to the N4, just north of the Benoni CDB and east of OR Tambo International Airport.
360 PRETORIA AVENUE, FERNDALE
360 Pretoria Avenue is a single, large triple-storey building located in the established office node of Ferndale, just north of the main Randburg CBD. The area is characterised by a mixture of large single-tenanted office blocks and offices which are multi-tenanted.
The property is well positioned in terms of accessibility; the main arterial roads – Bram Fischer Drive, Bond Street and Republic Road – are all within easy reach. Ferndale is in close proximity to both the Sandton and Johannesburg CBDs.
The building has a GLA of 4 185m². It features a central atrium, and offers a mixture of large open-plan offices and executive offices, with associated boardrooms and presentation rooms. Each floor has ablution and kitchen facilities. There is a café/pause area on the ground floor.
The perimeter of the property is secure, with a combination of walls and palisade fencing. There is a security station at the entrance to the property.
The property was recently vacated and would be ideal for a single tenant, although the building is versatile and could be let on a floor-to-floor basis if required.
Research done in the area shows that asking rentals are in the region of R50 to R70 per square metre per month for offices, R450 a bay for basement parking and R350 a bay for open parking per month.