South Africa

Offers Invited: Retail and Residential Investment Opportunities

Park Village Auctions is inviting offers on two high-income-potential investment opportunities centred on the landmark previously described as the “Orion Building” in Edenvale.

Located at 1 First Avenue, Elma Park, Edenvale, the two available lots form part of the multi-storey sectional title scheme, Elma Park, visible throughout Edenvale.

Buyers have the option to offer on a commercial lot, a residential lot, or both.

The commercial lot comprises sectional title units, numbers 1 and 2, and an adjacent parking lot. Unit Number 1 is situated on the ground floor and offers a combination of partially occupied shops, offices and storage space. Unit number two, on the first floor, lends itself to office or retail applications. Both units are zoned “business 2”, and combined measure 7 449 square meters.

Erf 257, the macadamized parking lot, comprises demarcated uncovered parking for 86 vehicles and shade-net covered parking for 34 vehicles all enclosed by a secure palisade fence with steel palisade sliding gates. 

The second lot comprises 17 sectional title residential apartments within the same sectional title scheme, “SS Elma Park”. All seventeen apartments are to be sold as one lot. The breakdown as follows:

  • Eight 1-bedroom units comprising an open-plan lounge and kitchen, one bedroom and a bathroom.
  • Five 2-bedroom units comprising an open-plan lounge and kitchen, two bedrooms and a bathroom.
  • Four 3-bedroom penthouses comprising an entrance foyer, three bedrooms, an open-plan lounge-cum-dining room, a kitchen, and a guest cloakroom.

The visibility of the apartment block contributed to its popularity as an aspirational cosmopolitan living space among up-and-coming professionals. “Anyone who has ever travelled on the N12 highway knows the Orion at the Albertina Sisulu Freeway R24 split, business travellers who frequent OR Tambo International airport, especially,” says PVA’s Jaco du Toit.

The fact that the complex boarders Dunvegan, an affluent Edenvale suburb, adds to appeal of the lots. Says du Toit, “There stands enormous income potential for the retail shops that would naturally service the some-ninety apartments above and neighbouring residents.”

Nearby attractions and amenities include the Royal Johannesburg and Kensington Golf Club, Glendower Golf Course, Greenstone Mall, Bedford Centre and Eastgate Shopping Centre, Linksfield and Edenvale Hospitals, St Andrew’s school for girls, SAHETI School, and Edenvale High School among a multitude of mom-and-pop restaurants, stores and service businesses.

Viewing can be arranged by appointment. Offers may be submitted to auctions@parkvillage.co.za for the attention of Ms Carol Cherrington no later than 12noon on Thursday the 28th of January 2021.

For more information such as a detailed buyers pack, visit PVA’s website, parkvillageauctions.co.za, using web references 631 and 627 for the commercial and residential offerings respectively.