Upmarket downtown

Park Village Auctions (PVA) brings an excellent selection of 20 commercial properties and two development properties to the market on August 2.

Park Village Auctions (PVA) brings an excellent selection of 20 commercial properties and two development properties to the market on August 2.

Because demand for industrial and commercial space in Johannesburg is soaring, this promises to be a well-contested day of bidding.

The auction will take place at noon at the Wanderers Sports Club. Prior viewing can be done by appointment.

Importantly, no less than 12 of the properties are in the Johannesburg CBD and Doornfontein, which are fast emerging as the nodes of commercial renewal and business rebirth.

The mix of lots includes offices, retail and residential space, warehousing, retail and warehousing space, workshop and office space, flats, workshops and offices, a dedicated parking area, repair shops, offices and light industry space, retail and storage space, a shopping centre and a house with business rights.

The development properties - one of which is zoned "special" and a double stand zoned "industrial 1" - are both in Marlboro, another area that is enjoying a new lease of life.

In addition to the CBD properties, lots are also available in Marlboro, Mayfair, Springs, Ferreirasdorp, Emmarentia, Brixton and Roodepoort.

Among the mix is an entire city block of residential, retail and workshop facilities in Staib Street, New Doornfontein and a 12-storey apartment block in De Villiers Street in the Johannesburg CBD.

The apartment block comes on to the market at a time when residential accommodation in the CBD is in heavy demand.

The other available lot is a mix of offices and light industry and storage property with plenty of precious parking on half a city block in Eloff Street.

"This is an excellent portfolio and a reflection of the stepped-up interest in redevelopment and other properties in areas which, until just 10 years ago, were stagnating," says Lawrence Wulfsohn of Park Village's Property Division.

"It's also notable that Park Village is rapidly emerging as a major player in this market."

The upcoming auction follows a successful sale of commercial properties by PVA, including the White House Hotel at 152 Marshall Street, Johannesburg, which went for R2,5million; the former Jaguar showroom in Eloff Street motor town, sold for R4,1million; and a factory and warehouse in Melville, knocked down for R3million.

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