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Date: 09/11/2017     Park Village Auctioneers     Auction News

Commercial, Residential and Vacant Land Auction dubbed “A Developer’s Dream”

Commercial, Residential and Vacant Land Auction dubbed “A Developer’s Dream”
This commercial property and many other fine properties in Lanseria will go under PVA’s hammer this month.

Park Village Auctions is proud to bring to auction an assortment of quality commercial, residential and vacant land in the Lanseria area mid-November.

The land assets stem from a well-known niche property development concern which is currently under business rescue. PVA’s Jaco du Toit explains that the properties in question hold incredible investment potential. He predicts that the upcoming auction will attract a variety of investors, particularly developers, due to the nature of the properties available along with their proximity in and to what will be the Lanseria Airport City.

The auction run will commence with the sale of portion 121 which comprises a fully tenanted commercial retail building with facilities for a country-style restaurant, a takeaway outlet, four retail shops, a fifth stand-alone retail store, guest cloakrooms, staff accommodation and a large paved customer parking area.

One of the current tenants on the property runs a renowned chicken pie establishment. Du Toit notes, “The restaurant is seen as an institution in the area and attracts hordes of visitors, almost guaranteeing the future owner stable passive income from day one.”

It is also worth noting that the property had an approved application for commercial development (specifically Lindley extension 2) which could be easily revived, as well as approval in principle for the development of a public garage and ancillary subservient uses. The property measures 8.968 hectares in total.

The auction then follows with the sale of portion 11, situated on the corner of the R512 and R540. This is a large, mostly vacant, portion of land with the exception of 5 occupied residential dwellings and falls within the Lanseria Aerotropolis Development zone. The property measures 73.4306 hectares in total.

Following directly after this, portion 85, an agricultural holding with a farm dwelling and outbuildings, located adjacent to the Refilwe Community School. Due to the extent of the improvements of the land, location, and size (8.5653 hectares in total) du Toit singles out this property as holding great potential for possible residential development.

The next lot on the block takes the form of a 3246sqm single stand situated at number 371 Player Close, opposite the first fairway, within the “Blair Atholl Estate”, Ashenti Road, Lanseria.

Says du Toit: “There is certainly something for everyone at the upcoming auction. From the fully tenanted commercial retail hub that is a prominent landmark on the Pelindaba Road to a coveted stand within the exclusive Blair Atholl Estate. Not to mention the mostly vacant land which holds fantastic development potential, right on the doorstep of the highly anticipated Lanseria Airport City. Developers and astute investors alike will be hard-pressed to find opportunities like this again soon.”

The auction will take place from 11 am on the 16th of November at the Shumba Valley Lodge & Conference Centre, Pelindaba road, Lanseria.

Interested parties can learn more about the properties up for auction by visiting Park Village Auctions website or calling 087 160 0521.

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