Business Day

Well known Nedbank Corner set to come under the hammer

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THE well known Nedbank Corner in Braamfonte­in will come under the hammer at Aucor’s property auction at the Park Hyatt Hotel in Rosebank at noon on Thursday.

“Braamfonte­in as an area in its entirety is extremely buoyant and has seen much rejuvenati­on and interest over the past 12 months,” says Aucor’s John Hislop.

“The area is very cosmopolit­an and attracts a diverse range of both people and businesses. Braamfonte­in also houses a variety of restaurant­s, hotels, cultural offerings and offices.”

Mr Hislop says he believes the area is going to continue to grow in popularity, so any investor looking to grow their portfolio would do well to invest there.

Nedbank Corner is well located on the corner of Jorissen and Biccard Streets and is a mixed-use, 14-storey office tower which has substantia­l parking spread over three levels.

In addition to 11 floors of office space, the building has street-level retail opportunit­ies which would appeal to tenants looking to capture passing trade.

The building is zoned Business 1, covers 997m² and has a total gross lettable area of 3,856m².

According to Mr Hislop, the property is well known in the area and demand for space in the building has always been high.

Nedbank and RBA are the blue-chip anchor tenants, with Nedbank positioned on the ground floor and RBA occupying six of the upper floors.

The long-term leases in place generate rental income of more than R200,000 a month.

“With an additional 1,222m² office space available on the upper floors and 300m² of retail space available at street level, the building has the potential to generate an income of well over R300,000 a month,” Mr Hislop says.

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