Hot property for investors
The first quarter of 2014 saw a solid foundation being set for the Aucor Property Team with some excellent sales in this period. Sales include the Douglasdale Shopping Centre located in Johannesburg for over R87 million, and the Siyabuswa Shopping Centre located in Mpumalanga which sold for R34.5 million.
Mark Kleynhans, Head of Commercial for Aucor Property comments, “We went into 2014 with a conservative outlook. The last quarter of 2013 was challenging from a macro-economic perspective despite what was seen to be a good festive season from a retail perspective. This coupled with elections coming up in May meant that investors and property owners, were looking to be more cautious.
“The Douglasdale shopping centre, for example, shows that the market does have the appetite for the right property in the right location – and that despite consumers slowing down on spending over the past year, good retail offerings which are comprised mostly of essential products and services at a localised level, are a win in the market.
These types of centres will always have a good mix of tenants who are comfortable to engage in long term leases as they know they will see a return on being in the right location, making this type of property attractive to the savvy investor.”
The team also sold Siyabuswa, a tenanted blue chip retail centre located just outside of Marble Hall in Mpumalanga. The centre is situated directly across the road from a taxi rank which ensures excellent foot traffic through the centre and has a good mix of tenants including a national supermarket chain, the banks, furniture stores and a cell phone outlet.
