Witbank shopping centre to be auctioned

Witbank is poised to auction off one of its most popular shopping centres, the recently renovated Highland Mews.

16 Feb 2011

Situated in the industrial hub of Witbank, the centre would fall under the Auction Alliance hammer on 22 March 2011, the company said on Wednesday, 16 February.

The multi-tenanted centre is situated on the corner of OR Tambo Drive, Hans Strydom Drive and Theunis Janson Avenue in Del Judor, one of Witbank's busiest nodes, and enjoys excellent exposure due to the regular flow of both vehicular and foot traffic, according to Auction Alliance.

The six-storey centre has a gross leasable area of 17,031.80m² and is occupied by a mixture of local and national tenants, including Mr Price, Woolworths, Foschini, Clicks and Truworths.

Projected gross annual income for the period January 2010 to December 2011 amounted to about R21,5 million, said Andreas Greeff, a spokesman for Auction Alliance.

"The centre's combination of good location and retailer convenience heightens this lucrative property's capacity to be a sterling investment opportunity," he added.

Source: I-Net Bridge

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