Forty-year-old bakery goes to market

Pioneer Foods' 40-year-old bakery that's become a landmark extending over 5,000m² in Stanger, KwaZulu-Natal is going under the hammer following the relocation of the Sasko bakery to Shakaskraal which took place in mid-2014.

The new Sasko bakery is the largest Greenfields bakery in South Africa and cost over R470 million to complete. During 2014, Pioneer Foods engaged in a restructuring process to reduce costs in the face of constrained consumer spending.

Comments Greg Nafte of Nexus Property Group, the company tasked with taking the property to auction: ''This is one of the most iconic properties we have ever taken to auction and the interest we have received from both local and national buyers has been phenomenal. It is seldom that property becomes available in an area such as Stanger where property is generally tightly held, so we expect a very busy auction day. The redevelopment opportunities the property presents has been a big draw card for many potential buyers.''

On an erf of 11,704m² and with a gross lettable area of 5,371m², the property features a combination of production areas, storage warehouses, offices, workshops and carports, and is to be sold with vacant occupation.

The property is being taken to auction at noon on Tuesday, 24 February at the Protea Hotel Umhlanga Ridge.