{"id":800215,"date":"2024-11-18T14:02:06","date_gmt":"2024-11-18T12:02:06","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=800215"},"modified":"2024-11-19T19:05:22","modified_gmt":"2024-11-19T17:05:22","slug":"liquidation-auction-for-shopping-centre-in-south-africa-taking-place-this-week","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/800215\/liquidation-auction-for-shopping-centre-in-south-africa-taking-place-this-week\/","title":{"rendered":"Liquidation auction for shopping centre in South Africa taking place this week"},"content":{"rendered":"\n<p>Mabopane Junction Shopping Centre in Pretoria will be auctioned later this week as its owner, Hanmar Beleggings Proprietary Limited, is being liquidated.<\/p>\n\n\n\n<p>According to auctioneers <a target=\"_blank\" href=\"https:\/\/whproperties.co.za\/product\/liquidation-auction-mabopane-junction-shopping-centre-mabopane-pretoria\" rel=\"noreferrer noopener\">WH Properties<\/a>, the shopping centre is located in a densely populated township in the north of Pretoria.<\/p>\n\n\n\n<p>The property is found along the M17 in the midst of the township&#8217;s retail node and offers high foot traffic and access to major arterial routes.<\/p>\n\n\n\n<p>The Gross Lettable Area (GLA) of the shopping centre measures roughly 4,712 sqm and there are roughly 135 parking spaces.<\/p>\n\n\n\n<p>The buildings comprise four double-storey\/double-volume buildings. There is also a small office section on the east side of the northernmost building.<\/p>\n\n\n\n<p>The building is mainly constructed on face brick with corrugated roofing. There is also a large parking lot in front of the shops as well as a loading zone at the back of the property.<\/p>\n\n\n\n<p>The tenants include nationwide retailers as well as smaller \u2018moms &amp; pops\u2019 tenants, including:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Build-It<\/li>\n\n\n\n<li>OBC Chicken &amp; Meat<\/li>\n\n\n\n<li>Kit Kat Cash &amp; Carry<\/li>\n\n\n\n<li>Candy\u2019s Furniture &amp; Electronics &amp; Candy\u2019s Homeware &amp; Mabopane Feed Lot<\/li>\n\n\n\n<li>Dirisanang Ma Africa Funerals<\/li>\n\n\n\n<li>Nedbank ATM<\/li>\n\n\n\n<li>Autozone<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-businesstech wp-block-embed-businesstech\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"kyxg0lirGU\"><a href=\"https:\/\/businesstech.co.za\/news\/business\/799783\/major-company-in-business-rescue-in-south-africa-a-step-closer-to-being-saved\/\">Major company in business rescue in South Africa a step closer to being saved<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; clip: rect(1px, 1px, 1px, 1px);\" title=\"&#8220;Major company in business rescue in South Africa a step closer to being saved&#8221; &#8212; BusinessTech\" src=\"https:\/\/businesstech.co.za\/news\/business\/799783\/major-company-in-business-rescue-in-south-africa-a-step-closer-to-being-saved\/embed\/#?secret=VWmEvuZOXz#?secret=kyxg0lirGU\" data-secret=\"kyxg0lirGU\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>&#8220;The property appears to be in a fair to good condition consistent with buildings of this nature. Tenants are responsible for maintaining their own shops whilst the balance of maintenance is managed by the owners,&#8221; said WH Properties.<\/p>\n\n\n\n<p>The property did face a scare after a \u2018representative\u2019 of the City of Tshwane delivered notices to the property to the effect that a \u2018building has been erected without prior approval contemplated in Section 4(1) of the National Building Regulations and Building Standards Act, 1977 (Act 103 of 1977)\u2019.<\/p>\n\n\n\n<p>WH Properties said that the notice seemed outdated and did not state in what way the building was erected illegally.<\/p>\n\n\n\n<p>&#8220;The Seller and Auctioneers have investigated this matter and have in fact managed to obtain stamped and approved building plans for the property and the buildings that are on site,&#8221; said WH Properties.<\/p>\n\n\n\n<p>&#8220;Based on site visits and aerial photographs of the property the Seller and Auctioneer can safely state that all the buildings on the site, correspond with what is on approved plans.&#8221;<\/p>\n\n\n\n<p>&#8220;The only items which are different, are the cold room which belongs to OBC Chickens and forms a movable asset and some small storage overhangs which some of the tenants appear to have built for the loading areas which can be removed quite easily if required.&#8221;<\/p>\n\n\n\n<p>The online auction will take place on Wednesday, 20 November 2024 at 11 am and requires a registration fee of R100,000.00 (refundable to unsuccessful bidders).<\/p>\n\n\n\n<p>Hanmar Beleggings joins a long list of companies entering liquidation amidst a challenging period for the South African economy.<\/p>\n\n\n\n<p><a target=\"_blank\" href=\"https:\/\/businesstech.co.za\/news\/business\/796976\/five-big-businesses-closing-down-in-south-africa\/\" rel=\"noreferrer noopener\">Ellies<\/a>, once a prominent Johannesburg Stock Exchange (JSE) company, entered liquidation after its business rescue process failed. The company was unable to benefit from the rise of solar energy in 2023.<\/p>\n\n\n\n<p>Sticking with solar, Hohm Energy went into voluntary liquidation due to cash flow issues and mounting debt.<\/p>\n\n\n\n<p>Hohm Energy offered financing options for rooftop solar installations through partnerships with banks like Investec and Nedbank, but it struggled amidst a drop in demand following improvements in the country\u2019s load shedding situation, with now over 200 days of no rolling blackouts.<\/p>\n\n\n\n<p>South African sneaker brand Drip Footwear is also shutting down, with it struggling to pay an R20 million advertising bill, which led to a court-ordered liquidation.<\/p>\n\n\n\n<p>Another footwear retailer Frame Leisure Trading, the operator of The Cross Trainer, is also facing liquidation after an unsuccessful business rescue attempt, with the group struggling with cash flow issues following the COVID-19 pandemic.<\/p>\n\n\n\n<p>Images of the Shopping Centre can be found below (Source: <a href=\"https:\/\/whproperties.co.za\/product\/liquidation-auction-mabopane-junction-shopping-centre-mabopane-pretoria\" target=\"_blank\" rel=\"noreferrer noopener\">WH Properties<\/a>) <\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-3.jpg\"><img decoding=\"async\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-3-1024x682.jpg\" alt=\"\" class=\"wp-image-800218\"\/><\/a><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-1-e1731927813165.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-1-1024x768.jpg\" alt=\"\" class=\"wp-image-800216\"\/><\/a><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-9.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-9-1024x768.jpg\" alt=\"\" class=\"wp-image-800222\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-9-1024x768.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-9-300x225.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-9-768x576.jpg 768w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-9-1536x1152.jpg 1536w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-9.jpg 1920w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-4-e1731927820478.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-4-1024x768.jpg\" alt=\"\" class=\"wp-image-800219\"\/><\/a><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-6-e1731927828537.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-6-1024x768.jpg\" alt=\"\" class=\"wp-image-800220\"\/><\/a><\/figure><\/div>\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-8-e1731927835585.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"768\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2024\/11\/Mabopane-8-1024x768.jpg\" alt=\"\" class=\"wp-image-800221\" style=\"aspect-ratio:1;width:840px;height:auto\"\/><\/a><\/figure><\/div>\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p><strong>Read<\/strong>: <a href=\"https:\/\/businesstech.co.za\/news\/telecommunications\/800104\/from-61000-to-9500-telkoms-jobs-bloodbath\/\">From 61,000 to 9,500 \u2013 Telkom\u2019s jobs bloodbath<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A shopping centre in Pretoria North is going under the hammer as its owner is being liquidated. <\/p>\n","protected":false},"author":95,"featured_media":800218,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[20181,21036,20393,20659,557,26,20742,21035,1799],"class_list":["post-800215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-autozone","tag-build-it","tag-cross-trainer","tag-drip-footwear","tag-ellies","tag-headline","tag-hohm","tag-mabopane-junction-shopping-centre","tag-nedbank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/800215","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=800215"}],"version-history":[{"count":10,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/800215\/revisions"}],"predecessor-version":[{"id":800513,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/800215\/revisions\/800513"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/800218"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=800215"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=800215"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=800215"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}