Investment Property with Anchor Tenant

AUCT-001497 | On Auction

Investment Property with Anchor Tenant

448 Vale Avenue, Ferndale, Randburg, Gauteng

Investment Property With Anchor Tenant. 448 Vale Avenue, Ferndale, Randburg, Gauteng

Site Extent: ± 4 015 m² | Gross Lettable Area: ± 1 764m² | Gross Annual Income: ± R2,9 Million (excluding recoveries) | Service station with retail shop – Rare opportunity | Workshops, Car Wash, Double Volume Warehouse and offices


The property offers a well-located mixed-use facility, including a filling station with supporting ancillary uses, on a site measuring ±4 015 m2 in extent which is well accessed via two entrances directly off Vale Avenue.
Comprising a total of ± 1 764 m2 including a filling station, forecourt with a single storey retail shop, car wash, a workshop, a double volume warehouse and a double storey office building. The filling station operates under the Total SA brand. Total SA is the anchor tenant on the property. There are 4 fuel pumps under a canopy structure as well as sufficient parking and maneuvering space. The retail shop is currently occupied by Bonjour and Mugg and Bean (on the move). This retail area comprises of a shop, office, kitchen, public ablution facilities, staff ablution facilities and a change room.

The Seller is in possession of a Site License and the tenant operating the filling station is in possession of the Retail License which were obtained from the Department of Minerals and Energy. The workshop has two buildings of which the main building is a brick building with IBR roof sheets on top of timber trusses and heat protection. It further has 5 roller shutter doors that lead into the workshop as well as a swing steel door leading into the storeroom with IBR lean-to structures. The workshop is currently occupied by Streamline Mechanical and Auto Body Centre, and hosts a workshop, storeroom, reception, waiting area and an additional building with ablution and change room facilities. The workshop and yard section has palisade fencing with a palisade sliding gate. The car wash comprises of a wash bay, which can host two vehicles and comprise of a steel structure with IBR roof sheets, a Wendy house office and three triple shade net carports.

The double volume warehouse is a brick building with IBR roof sheets, it has 2 roller shutter doors that lead into the warehouse which also has a full mezzanine floor area. The building is currently occupied and hosts a double storey warehouse, reception and ablution facilities. The warehouse and yard section has palisade fencing with a palisade sliding gate. The office building is a part double storey brick structure with plastered and painted brick and face brick walls with steel and aluminium window and doors frames. There is a generator on site as well as all other movable items within the tenanted premises are specifically excluded for the sale of the property. This property is located on the northern periphery of the established Ferndale township, at number 448 Value Avenue, Ferndale, Randburg. The Randburg CBD is situated within close proximity of the property. The property is positioned approximately 10 km to the west of the Sandton Business node and approximately 20 km north-west of the Central Business District of Johannesburg.

The property enjoys excellent exposure to high volumes of passing vehicular traffic. The immediate area remains predominantly residential in nature and a very limited number of retail and industrial properties were noted along the same street as the property. The broader Randburg area remains commercial in nature and the well-established industrial node of Strijdompark is situated some 1.5 km to the west of the property’s node. Well established routes including Republic Road, Jan Smuts Avenue and Malibongwe Drive enhance the area’s accessibility from various parts of Johannesburg. Malibongwe Drive is the main arterial into the node from the N1. The N1 and Malibongwe Drive intersection is situated 3 km to the west of the property. The property is located along Vale Avenue, a secondary route linking with Rocky Street which provides the property’s direct access from Malibongwe Drive. The N1 Freeway provides access to major destinations including Johannesburg and Pretoria as well as outside provinces such as Limpopo and the Free State.

Commercial Type:
Retail Space
Web Reference:
AUCT-001497
List price:
POA
Address:
448 Vale Avenue, Ferndale, Randburg, Gauteng
Auction Venue:
Mount Edgecombe Country Club
Mount Edgecombe
Durban
KwaZulu Natal
Auction Date:
28 July 2021 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in


Auction Date: 28 July 2021 11:00:00am


Virend Deonarain
                                                         In2assets Representative

Property Agent


Virend Deonarain
Show number
[email protected]


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