Property portfolio under the hammer
MIDRAND - Two large Midrand properties, belonging to a prominent property consortium, will be auctioned on 20 November by Nexus Property Group.
The auction comes as the result of a restructuring of the property portfolio; the two commercial properties will no longer form part of the group’s core assets. Both properties, situated in Constantia Square on 16th Road in Midrand, offer good income producing opportunities.
Building one, Constantia Square, extends over a gross leasable area of 692m2 and is zoned general business. The building currently hosts four tenants and achieves a gross annual rental of R579 700.
Building two, Constantia Square, extends over a gross leasable area of 748m2 and is also zoned general business. The building currently achieves a gross annual rental of R560 000 with the largest of the units having a lease in place until October 2016.
Elias Tzouvanni of Nexus Property Group said, “The seller’s expectations are realistic and offers value to either owner-occupiers or investors.”
Constantia Square Office Park is located in the heart of Midrand and is a low-rise office park set in a park-like environment and is located less than one kilometre from the N1 offramp.
The auction will take place at the Radisson Blu Hotel, Sandton, on 20 November at 12pm.
Details: Nexus Property Group, 021 418 3911 or www.nexusproperty.co.za
