Commercial and industrial property gems under hammer

Prices at the most recent Park Village Auctions commercial and industrial property sale showed a distinct increase, setting the scene for strong bidding at the coming disposal of a mixed inventory of stock.

Prices at the most recent Park Village Auctions commercial and industrial property sale showed a distinct increase, setting the scene for strong bidding at the coming disposal of a mixed inventory of stock.

The sale takes place on Tuesday at the Inanda Club Pavilion, commencing at noon, and features a variety of 14 properties ranging from factory, workshop and warehouse space to retail and residential properties.

PVA's Lawrence Wulfsohn says a characteristic of the latest offering is a number of properties and excellent investment opportunities that are likely to produce strong growth in the medium term while offering good rental income in the interim.

"It's a real mix but if one were to pick out some of the highlights, you would have to note the eight-storey building in Jeppe Street, Johannesburg, with 100 offices and two ground floor retail outlets; a beautifully maintained, very secure, four-storey building in the centre of Benoni (the former Standard Bank offices), which lends itself to residential conversion and a block of Bellevue flats on the main taxi routes with 24 fully let units producing a strong monthly income.

Also of note is a beautifully refurbished Kya Sands warehousing-factory-office property in a well-secured part of this popular industrial estate, which has tremendous potential given the virtual absence of new properties in the area.

A Florida property in immaculate condition offers some 6000sqm of warehousing-factory-workshop-office space, with ample parking and is close to all amenities.

Another interesting building with a story to tell is that of the former Malvern Hotel in Jules Street, which has been converted for residential letting and produces a solid monthly income.

Other choices: a Krugersdorp property on a corner stand with four fully let shops; an attractive double investment in Kew with huge warehousing space and ample office space; a guest lodge at Hartbeespoort Dam with great potential, given the development in that area of late; a spacious single-storied building right on the doorstep of OR Tambo International in Benoni; brand-new warehouses in Industria and a well-maintained building in Longdale.

Finally there is a corner property in Benoni with four street front shops and one of the gems of the auction, a double storey office building with residential, office and retail space right in the heart of the Germiston CBD.

For further information Tel 011-440-6797 or www.pvaproperty.co.za.

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