Telkom building in Randburg sold for R50.6 Million
Auction Alliance recently sold one of the largest office buildings in the Ferndale area for R50.6 million. The property is currently tenanted by Telkom SA LTD until 2013 with an option to renew the lease and enjoys a significant gross monthly income.
The property is located on the corner of Pretoria Road, Philips Street and Oak Avenue in Ferndale, a busy corner offering excellent exposure to passing traffic.
The property is located in a well-established commercial node, close to the amenities available in Ferndale and enjoys good access to the M71, Malibongwe Drive and Republic Road.
The building is just over 11,000m², and its sale, proves that there is still strong demand for Office buildings in the current market
Comments Warren Aronson of Auction Alliance, “This proves that with interest rates being at their lowest levels in years, prominently tenanted properties offering significant monthly yields are becoming increasingly attractive to investors looking for well-positioned, income producing and high exposure properties”