Income-generator under hammer

● Park Village Auctions will soon bring to market a large commercial building situated among a number of government departments in Pretoria Central.

That’s the word from PVA’s Jaco du Toit, who says the property draws a secure income from a long-standing tenant and presents an attractive investment opportunity.

“You’d struggle to find a better incomegenerating investment,” says Du Toit, who indicates that the property in question, no 88 Visagie Street, Pretoria Central, is occupied by the Government Printing Works (GPW), “which has been a loyal tenant since September 1 2018”.

The industrial-zoned premises feature three sections — an office component, a warehouse, and a parking area, all set astride a 2,535m2 stand.

A reception room, a strongroom, a selection of large and small offices (mostly airconditioned), a boardroom, a training room and ablutions make up the office section of the property.

The double-volume warehouse portion includes an office, a storage area, smaller warehouse facilities and ablutions.

Both the warehouse and offices are fitted with CCTV cameras and an alarm system.

Du Toit says: “The current rental agreement, which expires in August 2021, includes an option to renew at the end of the lease period. Given that GPW has occupied the building for over two years, and further occupies neighbouring premises while serving several government institutions, it is likely that the buyer will enjoy a stable relationship with the tenant for years to come.”

The auction will take place on site on Tuesday at 11am. A preview will be held one hour before the auction.

Strict safety measures that include social distancing and mandatory mask-wearing will be enforced.

More details visit parkvillageauctions.co.za under listing no 614. Alternatively, contact PVA on auctions@parkvillage.co.za, or call 011-789-4375.