Park Village Auctions will soon bring to market a large, tenanted commercial building nestled among a huddle of government departments in Pretoria Central. That’s the word from PVA’s Jaco du Toit who says that the property draws a secure income from a stable, long-standing tenant and therefore presents an attractive investment opportunity.
“You’d struggle to find a better income-generating investment,” says du Toit, explaining that the property in question, number 88 Visagie Street, Pretoria Central, is currently occupied by the Government Printing Works (GPW), “which has been a loyal tenant since the 1st of September 2018.”
The industrial-zoned premises features three distinct sections, namely an office component, a warehouse, and parking set astride a handsome 2,535 square meter stand.
A reception, a strong room, large and small offices (mostly air-conditioned), a boardroom, a training room, ablutions make up the office section of the property.
The double-volume warehouse portion includes an office, a storage area, smaller warehouse facilities and ablutions.
Both the warehouse and offices are fitted with CCTV cameras and an alarm system.
Du Toit: “The current rental agreement, which expires in August 2021, includes an option to renew at the end of the lease period. Given that GPW has occupied the building for over two years, and further occupies neighbouring premises whilst serving several government institutions, it is likely that the buyer will enjoy a stable relationship with the tenant for years to come.”
The auction will take place on-site on Tuesday the 27th of the 11th of October am. A preview will be held one hour before the auction. Strict safety measures that include social distancing and mandatory mask-wearing will be enforced.
More information is available on parkvillageauctions.co.za under listing number 614 or by contacting PVA on firstname.lastname@example.org or 011 789 4375.