Investment properties under the hammer

A SELECTION of first-rate investment properties will be auctioned at Aucor's next multi-property auction.

A SELECTION of first-rate investment properties will be auctioned at Aucor's next multi-property auction.

Aucor property head Paul Winterstein says buyers can choose from a variety of stock ranging from offices and a warehouse in Linbro Park, an exclusive day Spa in Fourways' Cedar Square or a country hotel.

"We have accumulated a diverse range of investment properties, all with solid investment potential, so buyers can pick from a number of good deals."

He says prices are around 20percent less than they were two years ago and buyers, who are prepared to sit tight for the next three to four years, will see excellent capital growth.

He believes one of the better deals on the day will be a neighbourhood shopping centre, located in Klipgat in the North West.

The centre is situated on the main arterial route running through the town of Klipgat, consisting of ten retail outlets, and is the only centre in the town with a large grocery outlet and post office facility.

Other tenants include Shoprite Usave (the anchor tenant), a furniture store, supermarket, funeral parlour, bottle store, clothing shop and a Nedbank ATM.

Leases have recently been renewed and most run for another five years, with escalations of about 10 percent per annum. It has a gross lettable area of 2076m² and provides a gross annual income of R886117.

The auction will be held on March 25 at 12 noon at the Inanda Club, Forrest Road, Inanda.

Fore more information log onto www.aucor.com or call Aucor's call centre on 0861 28 28 46.

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