Joburg CBD feature auction

Posted On Wednesday, 29 September 2010 02:00 Published by eProp Commercial Property News
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In addition to a number of feature CBD properties on offer, an array of commercial, industrial, retail and residential property will also come under the hammer on the day

Property-Housing-ResidentialJohannesburg CBD Properties to be auctioned include:

162 PRICHARD STREET, CNR NUGGET STREET, JOHANNESBURG CBD
This seven storey building is well located on the corner of Pritchard and Nugget Streets in the Johannesburg CBD.  An increasing trend in the CBD is that numerous buildings have been reinstated or redeveloped for residential purposes. The well known landmark Jewel City is located close by.
The building comprises a ground floor retail component consisting of 3 retail shops. Above the retail section there are 6 floors comprising 54 double rooms and 12 single rooms that are furbished and utilised as student accommodation which is fully approved by the University of Johannesburg.  All flats have pre-paid electricity meters and the building is secure with access control 24 hours a day. A basement level also provides additional space for storage which will drive extra income.
The double bed flats achieve R3 600.00 per month ( R1 800.00 per student ) whilst the single bed flats achieve R2 700.00 per month.

102 TWIST STREET JOUBERT PARK, JOHANNESBURG
102 Twist Street is conveniently located on the corner of Twist and Kotze Street in Hillbrow and offers easy accessibility to the surrounding suburbs such as Joubert Park, Berea, Yeoville and the Johannesburg CBD. The area also boasts a high demand for retail space and residential accommodation because public transportation such as the Rea Vaya, Metrobus, Metrorail and Taxis are within easy reach. Furthermore, Park Station which houses the Bus Terminus within walking distance of the building
The seven storey building is zoned for Business 1 and offers 6 shops on the ground floor which are fully let. 73 Flats are spread across the upper levels of the building(out of which 70 are occupied) and there are an additional 10 flats under construction. The completed flats are furbished and let to a mixture of students and normal tenants. The building is well kept with only ongoing maintenance necessary.

HOEKSBURY, 3 HOEK STREET, JOHANNESBURG
Hoeksbury is located at the corner of Bree and Hoek Streets in the CBD of Johannesburg within walking distance from Johannesburg Railway Station as well as the centre of Johannesburg CBD and fall within Johannesburg's Urban Development Zone.  Due to the fact that Hoek Street is a pedestrian only street this allows for extensive retail trade. The immediate neighbourhood offers a combination of older buildings as well as modern developments and redeveloped properties. Most buildings offer retail accommodation to the ground floor with offices and / or residential accommodation on the upper floors. The Metro Mall, bus and taxi rank and traders market, is located in Simmonds Street with parking for 2 000 taxis and 25 busses. 
Hoeksbury is a 3 storey building which offers a retail component on the ground floor and a residential units on the upper levels. The building originally consisted of 2 residential units but is primed for a redevelopment into 6 units. The building is zoned for Business 1 and has a gross building area of 613m2. The property is occupied by a single tenant and the lease agreement in place runs until 31-05-2015. The current tenant is considered to be a very strong tenant as they have a number of retail outlets in the Johannesburg Central Business District.

GEMDAWN AND CONNAUGHT, CNR HOEK AND BREE STREETS
Gemdawn and Connaught are two buildings located across 3 erven, 1529, 1531 and 1532, on the corner of Bree and Hoek Streets in the Johannesburg CBD. All 3 erven have been tied in their respective title deeds and cannot be sold separately.  Originally designed as two separate properties the buildings comprise of retail accommodation on the ground floor which is occupied by three tenants including Kentucky Fried Chicken and Ellerines. There are 157 residential apartments on the upper floors - Connaught has 101 units  and Gemdawn features 46 units. Of the 157 units, only 44 are currently vacant. Three lifts service the building. The property has an estimated gross building area of 10 864m2 and is zoned for Business 1.

260 MARKET STREET
Situated at the corner of Albrecht & Market Street and stretching across to Commissioner Street, 260 Market Street is spread across 9 erven. The area is known as City & Suburban and is an older mixed use area that is generally characterised by older multi storey buildings used for light industrial purposes with mostly retail outlets to ground level.
The property is zoned for Industrial 2 and has a GLA of 7140m2 consisting of 4 individual industrial facilities and one larger residential facility which has 147 units. The opportunity exists for redevelopment.
For information on these properties and others on auction on the 7th of October 2010, please call Savile Row Auctions on 011 684 2707 or visit the website at www.savilerowauctions.com

Last modified on Tuesday, 10 June 2014 09:21

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