Hanover Square will be auctioned off by Aucor Property on the 17th of March 2015 at the Park Hyatt Hotel in Rosebank, JHB.
Aucor Property will hold its next multiple commercial auction in Johannesburg for 2015 at the Park Hyatt Hotel in Rosebank on the 17th of March 2015 at 12h00. The auction will feature an array of commercial, industrial and retail properties. Included in the lineup on the day is two multi-lettable office blocks situated in the heart of Edenvale.
Luke Rebelo, Business Development Executive for Aucor Property comments, “Hanover Square comprises of 2 modern office blocks which is conveniently situated on the corner of 7th Avenue, Hendrik Potgieter Street and 8th Avenue in Edenvale. The surrounding area features a mix of commercial and industrial properties with the area growing in popularity due to the close proximity to Van Riebeeck Avenue via Hendrik Potgieter street providing easy access to both the R24 and N3 highways. The property spans 2 erven with a total land extent of 2 966m2 and has a total GLA of 3166m2 for the two buildings combined. The property is zoned for “Special” for offices as per the Ekurhuleni GIS.”
Each office block features two office levels and as well as a basement. The offices are accessed by a central lobby which divides the buildings into two wings. The current configuration in each of these buildings is for 4 tenants per block with the internal configuration of the buildings varying due to the dry-walled partitioning. Each floor also has kitchenettes and bathroom facilities. The basement parking areas include 4 storerooms, a central staircase, utility room and toilet.
The property has generous parking space with a total of 40 open bays and 76 basement bays. The property has good security and features perimeter electric fencing and motorised access gates.
Rebelo concludes, “With its excellent location directly across the road from the Edenvale SARS office as well as the Department of Home Affairs and the demand for quality office space in this area the property is a solid investment for any portfolio.”