Thursday, June 21

Mauritian retail complex a sale highlight

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Well-positioned and easy access from the highway

A retail centre and development land in Mauritius will be a major attraction at Broll Auctions and Sales’ multi-property sale in Joburg on November 22.

Circle Square Retail Park is well-positioned in a
strategic traffic node on
the M2 at the epicentre of major urban areas in the north, only five minutes from Grand Baie and 15 from Port Louis.

With a gross lettable area of 7715m², the retail complex has strong exposure and easy access from the highway and includes a fully-let motor dealership and complementary businesses in the one half, and design and furniture-themed outlets in the other.

With the entire project encompassing 3.4hectares, the vacant land – which can be excluded from the sale – is situated behind the centre, and is rezoned for a further mixed-use development, with a residential and community living influence.

Another noteworthy lot will be the Federal Building in Cape Town’s CBD.

Set on an erf of 462m² and with a gross lettable area of 3700m², the 11-storey building is well suited for a residential conversion or hotel and fronts on to the Heerengracht, just around the corner from Thibault Square.

The building has been divided into 28 sections from ground to top floor, with retail on the ground level, floors one to five being used as a beauty school, and the remaining six being used for student accommodation.

An iconic building going on sale is the Safari Hotel in Hillbrow, Joburg, comprising a total gross lettable area of 10404m² and consisting of 10 fully let retail shops and 293 residential units.

Broll says the “well-managed” building has the potential for significant income, as a further 21 rooms can be developed on the first floor.

Also included in the sale is 495m² of vacant land opposite the building which is also zoned “Residential 4” with primary rights allowing for shops at ground floor, business purposes, places of amusement and a hotel.

Among other prime properties to be auctioned are five modern cluster residences developed on one stand in Bryanston Drive, Joburg.

The two larger properties are both four-bedroom homes, another is a three-bedroom home and the remaining two are being used as guesthouses/hotels with seven rooms each.

The buildings cover 1770m² in total, and are set on a combined erf of 5700m².

The auction will start at noon at the Wanderers Club in Illovo.

For further details, call Bradley Stephens on 0877008269 or 0824437731 or e-mail bstephens@broll.co.za.

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