Mixed-Use Development Potential with ± 68 000 m² of Improvements

AUCT-001450 | On Auction

Mixed-Use Development Potential with ± 68 000 m² of Improvements

Verref Vereeniging, 87 Barrage Road, Powerville, Vereeniging, Gauteng

Mixed-Use Development Potential with ± 68 000 m² of Improvements. Verref Vereeniging, Barrage Road, Powerville, Vereeniging, Gauteng

Comprises of 2 properties|Total Extent: ± 133.76 Ha| | Gross Annual Income including recoveries ±R 20 Million | Known as the Main Works Site|Improvements plus vacant land |Over ± 68 000 m² of improvements on site | Income generating |Commercial, industrial and residential leases | Proposed plans to be included in the Vaal River City Development | Zoned: Industrial


This ±134-hectare site in Vereeniging is perfectly-positioned along the Vaal River to be included in the Multi-Billion Rand planned Vaal River City development, which involves the construction of at least 400 000m² of commercial space, 60 000m² of retail and leisure components, 20-hectares of park areas, including a bird sanctuary, and 5 000 residential units.

The location of the site will fit ideally into the Vaal River City development, and will provide a vital link between Vereeniging, the development and Vanderbijlpark. The Seller has been in negotiations with the Developers for the inclusion of a portion of this site into the Development. Also integrated in this development is the proposed Vaal River Student Village which will cater to the Vaal University of Technology, a few minutes away from the Main Works site.

These two properties known as the Main Works Site, are currently utilised for refractory operations and comprise of:
• The Remainder of Portion 98 of the Farm Leeuwkuil No. 596 Improved with a large and varied amount of improvements as well as a large tract of unutilised land. The improvements consist of various industrial buildings, 24 houses, a recreation club with squash courts, cricket ground and a bowling green. Significant process has been made in re-developing the buildings and the property is 90% tenanted with triple net leases, presenting a lucrative investment opportunity.
• The Remainder of Portion 122 of the Farm Leeuwkuil No. 596 Comprises of vacant land.

Commercial Type:
Mixed use Commercial
Web Reference:
AUCT-001450
List price:
POA
Address:
Verref Vereeniging, 87 Barrage Road, Powerville, Vereeniging, Gauteng
Auction Venue:
Mount Edgecombe Country Club
Mount Edgecombe
Durban
KwaZulu Natal
Auction Date:
23 June 2021 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50,000.00 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in


Auction Date: 23 June 2021 11:00:00am


Alan Martin
                                                         In2assets Representative

Property Agent


Alan Martin
Show number
[email protected]


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