Bustling complex in CBD offers opportunity for aspiring property investors
Aspiring commercial property investors will have the opportunity to make a solid start with their portfolio when In2Assets calls for bids for the Newcastle Woolworths Centre on April 18.
The property in the Newcastle CBD – fully let with three national blue chip tenants in Woolworths, PEP and Rage – has a gross lettable area of over 2700m² with a combined gross annual rental of about R3.3million.
It is also a bustling centre. In2Assets says a pedestrian foot count conducted in March 2012 found that about one million pedestrians passed through the passage in the building in just a month, illustrating the popularity of this shopping node.
Andrew Miller, In2Assets’ group auctioneer, says: “This high-profile property is ideal for investors looking for value beyond metropolitan areas. Strong national tenants and location are prerequisites for savvy property buyers when looking at outlying towns and the Newcastle Woolworths Centre ticks both boxes.”
The auction will take place at Durban Country Club on April 18 at 11am.
In2Assets is also planning the sale on April 19 of Zulu Waters Game Reserve, a 3000hectare estate in the KZN Midlands, on the P171 Castle Road near Estcourt.
Zulu Waters has a wide variety of revenue-generating features including game, farmlands, dams, abattoir, workshop, storerooms, staff quarters and office.
There are also bore-
holes and generators for independent water and power supply.
In a multi-property auction on March 20, In2Assets will auction the following three properties:
* Over 10000m² of industrial property at 5 Swinton Road, Mobeni: two warehouses of 2700m² and 4200m², respectively, and a large yard of over 3300m².
Mobeni is about 13km south of Durban CBD and ideally located near the Port of Durban.
* An office building at 13-15 Ennisdale Drive, Durban North: a 1000m² prominent office block consisting of a pair of linked buildings. Well-positioned alongside Swapo Road (Broadway) and near the N4, the two buildings are connected by a sky bridge. Most of the property is owner-occupied but will be sold partially vacant on transfer.
* Commercial property at 57 Assagay Road, Hillcrest: multi-tenanted commercial office park consists of 16 units, close to Hillcrest Private Hospital, with a gross annual income of over R840000, excluding rental for three vacant offices.
The park consists of 16 units in four freestanding buildings, including an oncology centre and medical response base, set amid attractive gardens.
For more details, call In2Assets on 0315747600 or see www.in2assets.co.za.