Sale of commercial and retail properties

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Included in the lineup are two multi-lettable office blocks in the centre of Edenvale.

"Hanover Square comprises two modern office blocks which are situated on the corner of 7th Avenue, Hendrik Potgieter Street and 8th Avenue in Edenvale," says Aucor Property's Luke Rebelo.

The property occupies two erven covering 2,966m² with a total gross lettable area of 3,166m² for the two buildings combined.

The property is zoned "special" for offices.

Each block has two floors of offices and a basement.

The offices are accessed by a central lobby which divides the buildings into two wings.

The current configuration in each of these buildings is for four tenants in a block.

There are 40 open-air parking bays and 76 bays in the basement.

A shopping centre and a neighbouring petrol station in Kwazakhele, Port Elizabeth, are also up for sale.

"The two sites are situated adjacent to each other in the township of iBhayi and will be sold as two separate lots," says Aucor's John Hislop.

The Engen petrol station is centrally located on Daku Road, which links iBhayi to the Motherwell area.

It is on a stand of 2,449m².

The sale is of the land only.

"There is a triple net lease in place which runs until 2023 and generates a net income of R1.6m a year," says Hislop.

The Daku Shopping Centre is on an erf measuring 7,837m², with a gross lettable area of 4,245m² and is zoned for Business 1.

There is a variety of leases in place, with anchor tenant Shoprite Checkers' lease in place until 2021 with a renewal option. The gross income of the property is R5.4m a year.

On the block, too, is a multi-let retail centre in Umlazi, next to a Shell petrol station at 238 Maurice Gumede Drive. This mixed-use property occupies an erf measuring 3,382m².