Re­liance Auc­tions is ready for prime re­tail prop­erty sales

Weekend Argus (Saturday Edition) - - FRONT PAGE -

OVER the next two weeks Re­liance Auc­tions will call for bids for sev­eral prime re­tail prop­er­ties at a ma­jor auc­tion at the Dur­ban Coun­try Club on Oc­to­ber 10 at 11am.

A ma­jor at­trac­tion will be the SABC Cen­tre in the Mbombela (Nel­spruit) CBD, a ma­jor up­mar­ket re­tail com­plex with about 11 600m2 gross let­table area (GLA). Lo­cated on the corner of Madiba Drive and An­drew Street, the com­plex ac­com­mo­dates 26 ten­ants, in­clud­ing blue Chips and na­tional an­chors.

Leases in place in­clude five-year agree­ments with the SABC and the Bakos Broth­ers fur­ni­ture em­pire, as well as a 10-year lease with Food Lovers Mar­ket.

David Sout­ter, chief ex­ec­u­tive of Re­liance, who is per­son­ally han­dling the sale, says the prop­erty – be­ing sold as a port­fo­lio dis­posal – is in “per­fect” con­di­tion.

Sout­ter is also han­dling the sale of an­other prime re­tail prop­erty: the Boxer Shop­ping Cen­tre in Wyn­berg, Sand­ton. Lo­cated at 21 Chad­wick Av­enue (corner Louis Botha Av­enue), the com­plex has a GLA of just un­der 4 000m2 and 13 high-pro­file ten­ants, spear­headed by Boxer Su­per­stores which holds the an­chor lease un­til 2028. Other ten­ants in­clude AVBOB, Doves Funer­als and Lancet Lab­o­ra­to­ries.

Sout­ter ex­pects strong bid­ding for both the Mbombela as well as the Wyn­berg com­plexes as both are in very busy pedes­trian ar­eas.

Con­tact Sout­ter at david@ re­lianceauc­tions.co.za or call 011 234 6364.

A ma­jor shop­ping cen­tre in Mount Fletcher, East­ern Cape, will also be on of­fer at the Dur­ban sale on Oc­to­ber 10.

Sit­u­ated at 309 Main Street, the 5 000m2 prop­erty has a GLA of just over 4 000m2 and long-stand­ing ten­ants in­clud­ing govern­ment and fi­nan­cial in­sti­tu­tions. Blackie Swart is han­dling the sale and says the prop­erty is also in per­fect state.

Swart is also in charge of the dis­posal of a Uni­trans mo­tor deal­er­ship in An­drew Zondo Road, over­look­ing the N2 high­way pass­ing by Amanz­im­toti, which has a GLA of close to 1 600m2.

Call Swarton 064 509 5639 or email blackie@re­lianceauc­tions.co.za.

A 12-storey of­fice block in Pi­eter­mar­itzburg will also be sold on Oc­to­ber 10. The prop­erty, 10 Chancery Lane, has a shop­ping ar­cade and base­ment park­ing and a sub­stan­tial GLA of 8 000m2.

“The ar­cade is fully let with a high an­nual in­come. The build­ing, which needs some at­ten­tion, is ideal for re­de­vel­op­ment into ei­ther cor­po­rate head of­fices or a stu­dent res­i­dence,” says Deon du Toit, who is han­dling the sale.

Call Du Toit on 076 998 4396 or email deon@re­lianceauc­tions.co.za.

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