Joburg’s historic Wembley Raceway Stadium hits the Auction Block

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With two grandstands, a warehouse and a registered helipad and tons of land for development, the Wembley Stadium and Raceway in Joburg is up for Auction. With two grandstands, a warehouse and a registered helipad and tons of land for development, the Wembley Stadium and Raceway in Joburg is up for Auction.

The historic Wembley Stadium and Raceway in Johannesburg CBD, where in the 1940’s speedway racing was the thing, is set to go under the auctioneer’s gavel during Auction Inc’s Multiple Property Auction on 2 July 2015.

Every Friday evening, the public would gather to watch speedway motor cycles compete around the oval track, the excitement was great attracting competitors from as far afield as the UK.

Today the facility is still there, however the real estate measuring 7 Hectares has become too valuable to retain as a fun venue. It is for this reason that the owners have decided to dispose of the facility by public auction. It is a unique opportunity to acquire 70 000m2 in the heart of the Johannesburg Metropole with two grandstands, a warehouse and a registered helipad and tons of land for development.

Featured on the same auction, are several other blue chip investments propositions. Included is a sectional title unit in the Fordsburg Oriental Plaza, well located and measuring around 135m2.

Vanderbijlpark features strongly on the auction and includes a shopping centre fully let to national tenants on long term leases. A stand alone retail sectional title component on a busy intersection generating great revenue on a strong lease and yet another financial opportunity is a multi tenanted retail/commercial development generating over a million Rand per annum.

The well known resort River Run Lodge with Game breeding section on 200 Hectare with Vaal river frontage of 2.5km is also on offer.

For residential developers looking for top quality land for a secure estate on the East Rand, a walled property in upmarket Rynfield Benoni which has been zoned for 35 units will come under the hammer.

Ferndale in Randburg is the location of two office blocks to be sold, on the same auction. It has a GLA of around 800m2 and adequate parking.

The auction to be conducted by Auction Inc, takes place on Thursday 2 July at 12pm at The Houghton Golf Club Johannesburg.

For more information on the auction, Click here to view more details.


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