Park Village Auctions is set to host four back-to-back property auctions comprising commercial and mixed-use Rustenburg premises with “favourable revenue potential”. That’s the word from PVA’s Andrew Dix-Peek who says that buy-to-let investors will be spoiled for choice.
“These are properties are primed for rent, and some are, in fact, already tenanted,” Says Dix-Peek, explaining that the assortment of mainly commercial premises up for grabs lend themselves well to co-working space—a trend that he foresees growing in the near future.
Dix-Peek: “While some businesses are downsizing, others have been borne out of the pandemic. Most new businesses are almost entirely digital, requiring no more than a few workstations to operate. Co-working spaces allow businesses to scale as required, paying only for the space they use.
First on the block, sectional title unit number 7 and exclusive use area B1 and T7 of “SS Watsonia” located at number 28 Berg Street, Rustenburg. The sale comprises two free-standing office buildings namely, unit number 7, measuring 279 square metres and exclusive use area B1, an office building measuring 79 square metres with certain other improvements.
Number 26 Berg Street follows immediately after. This mixed-use 2 153 square metres property has been improved with three free-standing single-storey buildings comprising offices and eleven tenanted residential apartment units among other improvements.
Proceedings will then move onto number 30 Loop Street—business premises featuring recruitment offices, interview rooms, open plan and private offices, boardrooms, cloakrooms, staff kitchens, storerooms, and residential dwelling and outbuildings converted into offices. The premises includes ample staff and customer parking, which is accessible from Berg Street and measures 4 222 square metres in total.
The day concludes with the sale of number 4 Kruis Street, corner Berg Street (portion 1 of Erf Number 32 Rustenburg) measuring 1 405 square meters. This former residential stand has been divided into two commercial portions comprising a single-storey dwelling converted into offices and a retail outlet ideally suited as a vehicle showroom or fitment centre. The commercial offices and retail portions each boast private entrances.
The auction run will commence at 11am on Tuesday the 18th of August on-site at 30 Loop Street, Rustenburg, North West Province. Social distancing and hygiene protocol will be enforced at the auction venue, and attendance will be subject to a strict “no mask; no entry” policy.