Aucor Property lays solid foundation for Q1 2014

Posted On Thursday, 24 April 2014 12:10 Published by
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The first quarter of 2014 saw a solid foundation being set for the Aucor Property Team with some excellent sales in this period.

Mark Kleynhans

The sale of the Douglasdale Shopping Centre located in Johannesburg for R87,775 million and Siyabuswa Shopping Centre located in Mpumalanga which was sold for R34.5 million.

Mark Kleynhans, Head of Commercial for Aucor Property comments, "We went into 2014 with a conservative outlook the last quarter of 2013 was challenging from a macro-economic perspective despite what was seen to be a good festive season from a retail perspective.

This coupled with elections coming up in May meant that investors and property owners, whether buying or selling, were looking to be more cautious.

"Taking the Douglasdale shopping centre as an example, shows that the market does have the appetite for the right property in the right location and that despite consumers slowing down on spend over the past year, good retail offerings which are comprised mostly of essential products and services at a localised level, are a win in the market.

These types of centres will always have a good mix of tenants who are comfortable to engage in long term leases as they know they will see a return on being in the right location, making this type of property attractive to the savvy investor."

The team also sold Siyabuswa, a tenanted blue chip retail centre located just outside of Marble Hall in Mpumalanga. The centre is situated directly across the road from a taxi rank which ensures excellent foot traffic through the centre and has a good mix of tenants including a national supermarket chain, the banks, furniture stores and a cell phone outlet.

Kleynhans continues, "It is interesting to draw a comparison between these two properties based solely on location and demand for the right services and products.

What we are seeing is that buyers don't only want to buy properties in upmarket Johannesburg North based areas but see the value of procuring income producing properties in emerging markets where there is good passing trade and consumers have cash to spend on essentials. These centres are also fully tenanted with big brands seeing the value in holding long term leases."

"Based on what has transpired to date the team at Aucor Property remains optimistic about the coming quarter and have already secured 24 excellent properties which will come under the hammer on the 20th of May 2014 at the Maslow Hotel at 12h00." concludes Kleynhans.

Last modified on Friday, 30 May 2014 20:34

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