Two separate large scale investment opportunities with service stations and solid national tenants will be presented for public auction by the ClareMart Auction Group at their November Multiple Commercial and Investment Property Auction at the Radisson Hotel, Granger Bay on Wednesday 28. “Our Group has achieved high levels of success in the sales of service stations over the past years and we are currently marketing two separate opportunities to the public and anticipate considerable interest from investors who require the security of tenants in the fuel service industries with long leases as well as major national retail food outlets” says Group Sales Director, Farrell Perling.
262 Voortrekker Road is situated on Parow’s high traffic density thoroughfare which offers visibility and locality.
“The property presents massive upside rental potential with added advantage of potentially generating signage revenue” says Perling. The property boasts amongst its tenant list a Caltex Garage, Freshstop convenience store and a Nando’s outlet. “There is also a vehicle dealership and the improvements include a partially tenanted multi-storey office block with a wealth of office space” says Perling. The office block component is prime for upside rental potential.
“It is important for the investor and prospective bidder to be aware that the sale of 262 Voortrekker Road is subject to the pre-emptive right of Caltex Oil(SA) not being exercised within 60 days of acceptance of the offer by the seller” adds Perling. The property will be on show on Wednesday, November 14 from 12noon to 3pm and Thursday, November 22 from 12noon to 3pm. For information regarding 262 Voortrekker Road, bidders are invited to contact Farrell Perling.
87 Strand Road, Stikland is the second opportunity that will be falling under the Group’s hammer on November 28. This offering for the investor provides a Total service station which has a lease until 2020 as well as several motor industry related tenants with two five-year lease renewal options. The property boasts a healthy rental return and there are plans in place for further development comprising retail space and multi-dwelling residential accommodation. Bidders may view the property at their own leisure and all enquiries regarding 87 Strand Road are to be directed to Group Auction Director, Mike Baigel.
Both high yield opportunities will be auctioned separately at the Multiple Commercial and Investment Property Auction at the Radisson Hotel, Granger Bay on Wednesday, November 28 at 12:30. Farrell Perling and Mike Baigel may be reached on 021 425 8822 and for further information visit www.claremart.co.za