'Strong' commercial property up on offer

“As we kick off the planning and implementation for our last auction for 2009, we are pleased to be able to bring a strong commercial property portfolio to the market,” said Savile Row managing director Mark Kleynhans.

“Among the 18 properties that we have on offer, we have secured six investment properties from an institutional seller,” Kleynhans said.

“This particular portfolio presents multiple upsides for potential investors and we are confident that we will be ending the year on a high note.”

The properties include:

• Corner of 6th Road and 7th Avenue, Springs: Conveniently located in the Springs Central Business District, this property has easy access to all major routes. The building is surrounded by properties that have government tenants and has a lettable area of 1722m². The property has Business 3 zoning and boasts a communal entrance with security facilities in place. Secured onsite parking is available.

• 20 Attie Fourie Street, Vanderbijlpark: With 1589m² of prime retail and office space, this mixed use building has an anticipated gross income of R950000. The property is located in the heart of the bustling central business district of Vanderbijlpark, just off the main arterials that connect the city to the nearby suburbs. The building is low-maintenance due to the concrete facade.

• Corner Monument and Voortrekker Streets, Kempton Park: Directly accessed from the R21 highway offering access to OR Tambo International Airport, this 1678m² building is centrally located in the banking district of the city of Kempton Park. The property boasts high street retail offerings as well as offices with parking on site for tenants. This property is mainly vacant.

• 51 Burger Street, Krugersdorp: This Cape Dutch property covers 930m², with Business 3 zoning in place. Conveniently located within the banking district, the property is vacant but has an anticipated income of R400000 a year. This property would be perfect for a legal or accounting firm's head office.

• Corner Botha and Paul Kruger Streets, Witbank: Situated in the busiest part of the old Witbank precinct, this property offers 2298m² of retail and office space. The building is located across the road from the taxi rank and bus station and is next door to the South African Revenue Service's office in Witbank. The property has an anticipated income of R1,5m a year.

• 83 Cranbourne Avenue, Benoni: Another Cape Dutch building, which boasts a fully let retail component with upside potential on the rentals. The office section of the building has vacancies that can be filled by an owner-occupier or by an investor. The anticipated income is R193000 a year.

The auction will take place on 26 November 2009 - Residential at 10am, and the Commercial at 12pm.

For more information, see: www.savilerowauctions.com

Source: Business Day

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