Oct 23, 2013:
The jewel in the crown of In2assets December commercial property auction is surely the Bergview Complex. Located on the N3 National Highway just outside of Harrismith, the property is a well-known landmark and stop over on the busy route between Johannesburg and Durban.
“It is rare that commercial properties of this significance come into the market and we are looking forward to a successful auction on 3 December” says Andrew Miller of In2assets.
The property boasts a GLA of over 5,800m² which is shared amongst a mix of tenants including Engen, Wimpy, Spur, Mugg& Bean, Nando’s, the Mountain View hotel as well as various other food, retail and business tenants. Most of the food outlets are amongst some of the most successful National franchises and the Petrol station is regarded as one of the busiest in South Africa averaging up to 1,5 Million litres a month being a single Station servicing dual directions.
In addition there is a fully serviced caravan site on the property as well as a large undeveloped portion of the property, which offers huge potential to develop an upmarket truck stop, further branded food outlets and/or amusement facilities.
“The property has been advertised for a number of weeks already and has attracted huge interest, both from private investors as well as listed funds,” says Miller. “With the majority of the current leases all extending well into the future, the property offers an excellent and rare investment opportunity.”
The auction will take place at 11:00am on 3 December at the Durban Country Club in KZN.
Further details can be found at www.in2assets.com or by calling 031 574 7600.