Growth­point Wit­bank prop­erty to go un­der gavel

Weekend Argus (Saturday Edition) - - PROPERTY -

AUCOR Prop­erty’s April auc­tion event will take place at the Park Hy­att Ho­tel in Rose­bank at noon on April 17, head­lined by a prop­erty in Wit­bank from listed fund Growth­point.

Wit­bank ( also known as eMalahleni, mean­ing the place of coal) is on the Mpumalanga Highveld. The pri­mary eco­nomic ac­tiv­ity of the re­gion is coal min­ing, which has given rise to Wit­bank as an in­dus­trial site with steel mills, a power sta­tion and heavy in­dus­try, with all the sup­port­ing busi­nesses as­so­ci­ated with a thriv­ing com­mu­nity.

Growth­point’s prop­erty at 4A Diederich Street has a 9 570m sub­di­vided ware­house which spans two er­ven mea­sur­ing a to­tal 23 412m2. The prop­erty is in the es­tab­lished com­mer­cial sub­urb with a high trad­ing den­sity, just to the south of Emalahleni’s cen­tral busi­ness district and close to a cen­tral taxi rank. The site fronts on to Eadie Street and Wal­ter Sisulu Drive ( R544), which links eMalahleni’s CBD with the N4, which in turn con­nects eMalahleni to Pre­to­ria. The N12 to Joburg is also con­sid­ered con­ve­niently ac­ces­si­ble.

The main build­ing is sub­di­vided into sec­tions ac­com­mo­dat­ing three ten­ants, Metro, Cash­build and Wood Stuff. The in­te­ri­ors are con­fig­ured to t hese t e nants’ needs a nd in­clude of­fices and ablu­tion fa­cil­i­ties.

The roller shut­ter doors and 4m in­ter­nal struc­ture en­able easy stack­ing. The north­ern side of the build­ing oc­cu­pied by Metro also has a re­ceiv­ing area and a petrol pump. The south­ern side of the prop­erty has a 1 650m2 open-sided IBR shed space and a 220m² store and ad­di­tional ablu­tion or stor­age build­ings. The prop­erty has park­ing, says Er­rol Tay­lor of Growth­point.

“We are re­leas­ing this prop­erty as it falls out­side our cur­rent in­vest­ment node and phi­los­o­phy,” he says.

Aucor busi­ness devel­op­ment e xec­u­tive Jonathan Aitken says all three ten­ants have long leases, which have been ne­go­ti­ated with an av­er­age 8 per­cent escalation year on year.

“Re­search has shown us that there is sig­nif­i­cant de­mand for this type of prop­erty among in­vestors who want to ex­pand their port­fo­lios in grow­ing busi­ness nodes across the coun­try. Th­ese high- den­sity trad­ing ar­eas cre­ate ex­cel­lent op­por­tu­ni­ties and re­turns.”

Call Jonathan Aitken on 082 453 1119 or e-mail jonathana@aucor.com.

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