Lettable building on auction

An office building with favourable revenue potential, ideally situated in Waverly, Johannesburg, will go under Park Village Auctions’ (PVA) hammer on Tuesday, 17 September.

That’s the word from PVA’s Clive Lazarus, who says that the office park directly opposite Melrose Arch on the M1 Highway is primed for corporate tenants.

“Now is the perfect time to invest in commercial property of this nature, as demand and rental growth are growing, particularly in Gauteng,” says Lazarus.

He added: “Research suggests that tenants are seeking convenience and accessibility.

This property enjoys proximity to upmarket residential and travellers’ accommodation, Melrose Arch with world-class amenities, and several fine recreational establishments, including the Wanderer’s Golf Club.

“The 4 034 square metre premises boasts impressive office space, staff and customer parking, and a generator. Between onsite and offsite facilities, corporate tenants will find everything they need within arm’s reach.”

ALSO READ: Unique piece of Arctic land goes on auction

Located on 17 Scott Street, the property on offer is a three-storey low-rise office building comprising two office blocks, a security office, 19 basement parking bays, 26 uncovered customer parking bays, 3-Phase electrical power via the City of Joburg and a backup diesel generator.

The two office blocks each have a private entrance and foyer and provide direct access to the basement parking.

It must be noted that Block A at the front of the property is part-way through a renovation that has been halted and, therefore, needs restoration.

The two offices and basement parking span an estimated lettable extent of info 1 704m2. “The upcoming sale represents an excellent opportunity to acquire a well-positioned property with much to offer tenants at a highly competitive rate and earn handsome returns through letting,” said Lazarus.

The auction will run simultaneously onsite and online from 17 Scott Street, Waverly, on 17 September at 11 am.

For more detailed information, please visit website reference number 1636 at www.parkvillageauctions. co.za, call 011-789-4375, or e-mail: auctions@parkvillage.co.za.

ALSO READ: Babe Ruth’s $24.1m jersey knocks sports memorabilia record out of the park