Two liquidated King Financial Services properties to be auctioned
ON JULY 15, two northern suburbs properties with retail and office space belonging to the King Financial Services group will be on auction.
Both properties are liquidation sales and are situated close to an abundance of prime real estate, including office complexes with a variety of businesses, restaurants and car dealerships.
The first property, 255 Durban Road, is a 1 170m2 building consisting of a ground-floor car showroom, first-floor office space and basement parking with 14 bays. The retail showroom has standard accommodation, with office space off the showroom floor, a reception area, three partitioned office suites, a kitchenette and ablution facilities. The office space consists of a first-floor reception entrance, offices, and a kitchenette and entertainment room opening up off either side.
The ground-floor showroom tenant is Barloworld South Africa, which has expressed an interest in renewing its lease. The first-floor office space and basement parking are open for new tenants.
The second property is Checkers Midville Durbanville shopping centre. This neighbourhood shopping centre on 13 Wellington Road offers retail space, office space and ample parking. The gross lettable area of the site is 4 649m2 and with Checkers as a strong anchor tenant, the property generates an annual income of R4 million. The lease with Checkers is in place until 2015.
The properties will be auctioned at Auction Alliance’s multiple commercial auction at the Crystal Towers Hotel and Spa at noon on July 15.
FOR THE BUSINESSMAN: The properties at 255 Durban Road, Bellville, and the Checkers Midville shopping centre in Durbanville will be up for auction at the next Auction Alliance multiple commercial auction.
SHOPRITE SALE: The Shoprite supermarket in River Road, off Voortrekker Road, Vredendal, is one of two Shoprite centres that were recently sold for R36 million by Kim Faclier of Savile Row Auctions. The Vredendal property was sold for R10.8m and the centre at 11-17 Scott Street in Upington went for R25.2m. Shoprite is the blue-chip tenant at both centres and had recently signed a 10-year fully repairing lease. Both transactions were concluded by the owners shortly after the auction. Call 082 5546 295 or email firstname.lastname@example.org.
NOORDHOEK HAVEN: This beach house and an adjacent vacant plot offering uninterrupted views of Noordhoek beach will be auctioned on site on July 9. ClareMart Auction Group director, Mike Baigel, says the 458m² double-storey home on a 983m² erf at 7 The Dunes in Ratelklip Close, and the adjoining vacant erf, are part of a deceased estate, and may be submitted as individual lots and together. Viewings will take place on Sundays June 27 and July 4 from 2pm to 5pm. Call 021 425 8822 or visit www.claremart.com.