Aucor Property has announced that its next Johannesburg multiple commercial auction event will take place on the 13th of March at 12h00 at the Maslow Hotel in Sandton. The auction will feature a total of 29 quality commercial, industrial and retail properties that have a combined estimated market value of R400 million.
John Hislop, Business Development Executive for Aucor Property comments, “Headlining this particular event is a prime retail offering located in the well-established residential hub of Douglasdale in Johannesburg’s northern suburbs. Douglasdale Village Shopping Centre is located on the corner of Leslie Avenue and Douglas Road in Douglasdale. Both roads are main arterials that run through the suburb connecting Douglasdale to Fourways, Lonehill, Bryanston and Northriding. The area itself has seen tremendous growth in recent years and the retail centre is surrounded by many cluster and townhouse developments which drive high volumes of traffic into the centre.”
Developed on 1.54 hectares of land, the centre is well laid out in a convenient u-shape design with an open parking lot area occupying the core of the property. The centre features a total of 288 parking bays which are spread over the open area lot as well as a basement parking facility. In addition to this the property houses a separate restaurant building that is currently tenanted by the well-known Hogshead brand. Woolworths is the anchor tenant on the property and recently acquired additional space in order to increase their store size to 1000m2. Woolworths also has its own secure loading area for deliveries which minimises any inconvenience to other tenants and shoppers. Other well established tenants include Clicks, Nino’s, DIY Depot, Nando’s, Sorbet and legendary The Throbbing Strawberry.
Hislop concludes, “Whilst we have seen numerous retail centres coming to the market over the past months, it is rare for such a well located centre that is fully tenanted with leading brands on long term leases to be on the market and this provides an rare opportunity for investors looking to grow their retail portfolio with a well performing and established centre in such a desirable location. Currently the centre generates a lease income of over R8.5 million per annum making it a very viable investment for the right buyer.”
For more information on this property, please contact John Hislop on 083 265 6867 or visit www.aucorproperty.co.za.
Interested parties who aren’t able to attend the auction event in person on the day will be able to view the auction online via the i-bidder.com platform at www.i-bidder.com. i-bidder.com is the global leader in webcast and timed auction bidding. Using the latest cloud based technology, the i-bidder.com system broadcasts traditional, live auctions via the internet, directly to any web connected device (tablets or computers). Buyers that cannot attend the auction on the day can view the auction online and bid telephonically.