Township retail remains hotly traded in the South African property market
South Africa’s township retail sector is emerging as a growth engine for the country’s property market as it continues to attract interest from investors.
With 3 nationally tenanted township retail centres in addition to prime industrial, small-scale retail, agricultural and office properties on offer, Broll Auctions and Sales expects to see robust action on the bidding floor at their next auction on July 11.
Norman Raad, Broll Auctions and Sales CEO, said momentum had been building at the leading auction house during 2024.
“We had standing room only at our May auction in Johannesburg and with elections behind the country, and the rand stabilising, July’s auction should show continued growth.”
Retail
“We are expecting a lot of interest in the three township retail properties that we are bringing to market,” Raad said.
The primely located Lotus Garens Plaza in Pretoria West will go under the hammer. This 5 336m² single-storey neighbourhood retail centre serves as a hub of convenience for the local community.
Anchored by a substantial 2,934m² Shoprite store and complemented by Shoprite Liquors, PEP, various ATMs, and a diverse range of other convenience stores, the centre offers an impressive GAI of over R13 million thanks to its high visibility, accessibility and the high traffic it enjoys from the surrounding neighbourhoods.
A 7 500m² national anchor retail centre opportunity in Tsakane offers an appealing and dynamic investment, while retail centre Lotus Gardens Plaza in Pretoria, is a comprehensive shopping experience under one roof.
“This 5 300m² single-storey centre has diverse tenants and benefits from visibility and accessibility, with foot traffic from the surrounding residential areas.”
In KwaZulu-Natal, a township retail centre on the Pomeroy main road has high foot traffic and visibility. “Pomeroy Plaza is the only shopping centre in town meaning this well-maintained centre is a pivotal asset as evidenced by its excellent returns.”
A double-storey mixed-use property in Tongaat presents a “lucrative and versatile investment opportunity, with both commercial and residential components enhancing its appeal and income potential,” Raad said.
“The property, that was recently renovated to give it a modern ambience, generates income from four retail tenants and the residential component adds potential income or accommodation for the owner.”
CBD
In the Johannesburg CBD, five properties will go under the hammer including a 3000m² multi-storey retail facility in Marshalltown, with basement parking and a goods lift.
A great retail opportunity awaits in the heart of the Carletonville CBD, offering a GLA of 800m² with solid national anchor tenants from the Truworths Group.
KwaZulu-Natal
The largest commercial berry farm in KwaZulu-Natal, is also on auction.
The well-developed BerryGrow blueberry and avocado farm, located within Mount Verde Estate just five kilometres from Hilton, offers “an opportunity for an astute investor looking to sow seeds of prosperity in a thriving agricultural setting,” said Raad of the 31 hectare property, which offers urban convenience in a rural environment.
Western Cape
In the Western Cape, a rare commercial investment opportunity in the Cape Winelands is looking for a new investor or savvy business owner to take over the mixed-use facility.
The 1800m² building in the heart of Robertson’s industrial node was previously a production, distribution and retail business but is primed for product lines including fruit, meat, dairy, ice cream, or even a distillery.
“With a limited supply of similar properties, vacancy levels are low with barely any commercial assets of this kind listed ‘for sale’ or ‘to let’ on the market, meaning such a dynamic property presents a myriad of possibilities.”
Guests are welcome to attend the auction which will be held at Wanderers Club in Johannesburg on July 11 from noon or follow the action live on www.brollauctions.com.
Contact Broll Auctions and Sales on 087 700 8289 should you require more information
Click here to find your ideal property on Broll’s digital marketplace.
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