Park Village Auctions is selling off four prominent high-rise commercial and residential buildings, each with street-facing retail components, in the heart of the city of Johannesburg on Tuesday.
PVA’s Jaco du Toit says the properties represent an excellent investment opportunity to those who want “in” on the back of the city’s R2-billion inner-city rejuvenation project, which mayor Herman Mashaba has dubbed the “second discovery of gold”.What adds to their appeal, is that each building has an official rating from the Johannesburg Heritage Foundation.”
First on the block is Ashbern Mansions, at 1 Wanderers Street on the corner of Lilian Ngoyi Street. It is a three-storey commercial building comprising shops and restaurants on the ground floor. The registered land size is 250m².
Strathearn Mansions, 2 Wanderers Street, then follows. This multi-storey flat building has five retail shops on the ground floor, various retail kiosks and shops on the first and second floors, and thirteen single residential rooms with a communal kitchen on the third. Storeys four to six comprise 24 one and two bedroom residential flats and one rooftop flat. Erven numbers 1508 and 1509 measure 496m².
Following immediately after will be Moravia Court, 3 Wanderers Street. It is a multi-storey commercial building with three retail shops and sub-let stalls on the ground floor. There is a flourishing wholesale market selling bulk goods to long-distance travellers. The first and second storeys serve as additional retail and storage space. The land size measures 249m².
Edinburg Court, number 79 Von Brandis Street on the corner of Rahima Moosa Street, will be the last lot of the day. The property is a multi-storey flat building comprising ground and first floor retail shops with various retail kiosks and shops.
Floors two to 11 contain double and single rooms and one rooftop flat, all of which are accessible via a security gate that uses a biometric fingerprint scanner and camera. The land size measures 249m².
Each property offers “excellent” street frontage with ample footfall, says Du Toit. They are near numerous public transport amenities such as Johannesburg Park Station and Gautrain Park station.
“Ashbern and Strathearn mansions and Moravia Court are rated C on the heritage register which indicates that the building is part of a significant group and contributes to the street scene. Edinburg Court’s B rating is said to be a good example of period work with historical interest,” adds Du Toit.
When and where
- The auction will be held at The Wanderers Club from noon on Tuesday.
- The properties will first be sold separately and then again as one lot advising that the highest bid or combination thereof will be accepted, subject to confirmation.
- To view the property details online, visit parkvillageauctions.co.za using web reference 182.
- Viewing is to be arranged by appointment only by contacting Jaco du Toit on 082-798-9476.
- For more information contact Park Village Auctions on 011-789-4375 or go to parkvillageauctions.co.za