Commercial Property Portfolio to be auctioned in July
The Gateway Hotel and Retail Centre previously known as the Delmont Hotel, will fall under the auctioneer’s gavel on the 3rd of July.
Auction Inc. today announced that its multiple auction event will be held in Johannesburg on the 3rd of July at the Houghton Golf Club and will begin at 12h00 on the day.
Headlining the auction is a property portfolio consisting of 11 properties from Hotels, Retail, Industrial and Residential Apartment blocks.
Auction Inc. CEO Paul Winterstein comments that “the market is experiencing increased buyer activity, the quality and variety of the stock on our auction floor certainly reflects current buyer preference”.
The main feature of the auction is a landmark property, The Gateway Hotel and Retail Centre previously known as the Delmont Hotel, strategically located in Elandsfontein. It is a block away from Barbara road, on the corner of North Reef road and Atlas road. This site measures 1.14 hectares and is ripe for upgrade. 25 en-suite bedrooms with numerous public areas and conferencing facility are just some of the features. The upside to this property is redevelopment either as a strip mall or apartments and retail. In view of the fact it is an industrial node it could be redeveloped for this purpose.
Pretoria offers another opportunity
Silverton’s hub is the site of an excellent income producing property. A triple net lease with blue chip tenant offers a generous return. Blocks of flats in the East Rand one with 71 rooms and another with 23 apartments are both fully let, offering good yields for medium to smaller investors.
Germiston
Germiston’s commercial hub houses ‘The Germiston Hotel’ that will be sold together with a gambling license which will be available to suitable candidates.
Industrial properties in prominent nodes round off the auction
These include gems in Wadeville (Warehouse with a GLA 2025m2 on 4500m2 ERF) as well as Alrode with an A-grade warehouse of 1863m2. This property has a double volume ceiling and a retail component.
The auction commences at 12:00 and takes place at the Houghton Golf Course, corner Osborn road and Grant avenue in Houghton, JHB.
For a full list and breakdown of the properties on offer, visit: www.auctioninc.co.za
