ICONIC PROPERTY PORTFOLIO SOLD BY IN2ASSETS

The Port Elizabeth branch of the National Property Company In2assets has recently concluded a sale prior to the auction valued at R 33 Million for a national media group. Times Media (Pty) Ltd offered the entire portfolio up for auction, which was scheduled to take place on 13 October 2016. The portfolio consisted of 5 buildings in central and South End, Port Elizabeth, all in close proximity to each other.

ICONIC PROPERTY PORTFOLIO SOLD BY IN2ASSETS

The Port Elizabeth branch of the National Property Company In2assets has recently concluded a sale prior to the auction valued at R 33 Million for a national media group.
Times Media (Pty) Ltd offered the entire portfolio up for auction, which was scheduled to take place on 13 October 2016. The portfolio consisted of 5 buildings in central and South End, Port Elizabeth, all in close proximity to each other.

A prominent building in the portfolio is 19 Baakens Street, known as “Newspaper House” which has housed the Eastern Cape Herald for many years.
The other and possibly the most iconic, and certainly the oldest building of the portfolio, is the historic “The Eastern Province Herald” building established in 1845,  is situated on the Corner of Military Road & Baakens Street.

Other properties included 23 Baakens Street, 2 Horton Street and 5, 7 & 9 Produce Street. All of the properties listed in the portfolio attracted various levels of Heritage status.

Each property had a variety of both short & long term leases, which created great interest and demand from both investors and end users.
To sell your property, contact Brad Dowlman on 0861 444 769.

Posted by In2Assets