A number of commercial properties comprising a mix of industrial, co-working and storage space/warehousing will be offered at BidX1’s upcoming auction of South African properties on 19th August.
All the properties are tenanted and well situated – seven in Johannesburg and one in Durban – with sound existing and potential rental income.
MC du Toit, Director of Sales for BidX1 South Africa, notes that the industrial and warehouse market remains popular as an affordable asset class which offers value, while also enjoying appeal for small businesses:
“These prime-located properties are part of a corporate disposal and offer investors and owner-occupiers ideal opportunities to make savvy acquisitions.”
In Wynberg, Johannesburg, in close proximity to Sandton CBD and each with an invited opening bid price of R17 million, two properties go on auction. The first is zoned commercial, comprising 4 689sqm GLA and consisting of 107 rentable units and 80 flexi-units, including parking and storage units. The second, zoned industrial with a GLA of 8 768sqm, consists of 379 rentable units.
Properties comprising co-working spaces include a 1 877sqm GLA commercial property in Kelvin Drive, Sandton, with 79 rentable units and parking, as well as three adjacent buildings being sold as one lot in Selby. The latter consists of 122 rentable units, which also include warehousing and self-storage. Each property has an invited opening bid price of R15 million.
Also in Johannesburg, storage facilities being offered include a large mixed-use building which is zoned commercial and comprises 259 rentable units, as well as a sizeable building of 2 918 GLA, also zoned commercial and with 182 rentable units including two spacious warehouses. The invited opening bid prices are R12 million and R3 million respectively.
In Duncanville, Vereeniging, 313 rentable units, parking bays and a 10 000sqm warehouse have an invited opening bid price of R8 million.
Centrally situated in Durban, a mixed-use building zoned industrial and comprising a GLA of 1 462sqm has an invited opening bid price of R3.5 million. The property consists of 95 rentable units including offices and parking bays.
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