Growthpoint Witbank property to go under gavel
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 firstname.lastname@example.org.