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MAJOR R63M SALE FOR PAM GOLDING COMMERCIAL

The sale of two prime located, fully tenanted commercial properties - N1 Motor City in Goodwood and Buchanan Chambers in Claremont CBD, both in the Western Cape - has been concluded by Pam Golding Commercial at a total value of R63 million. Both properties have been acquired by an investment company.


Geoff Stroebel, GM of Pam Golding Commercial (PGC) comments: "With the right property yields and as a combined investment, these two prime commercial properties significantly enhance the property portfolio of the investors, who were on lookout for a sound acquisition.


"Comprising 5070sqm of motor related outlets, the modern, fully tenanted N1 Motor City is ideally situated in a very visible location on the corner of Frans Conradie and Vasco Boulevard, adjacent to N1 City Mall in a thriving business hub in Goodwood in Cape Town's Northern Suburbs. Just 10 minutes from Cape Town International Airport and 15 minutes from central Cape Town, N1 Motor City is a very successful retail complex with Landrover as a major tenant."


Stroebel says the 2371sqm Buchanan Chambers is also well positioned next to popular Cavendish Square within a prime retail and business hub - all the more relevant given the rejuvenation of Claremont CBD.


PGC is marketing a number of prime commercial investment properties around South Africa, the bulk in the price bracket between R7 million and R20 million. These include a fully tenanted 700sqm office park in Windhoek CBD in Namibia, priced at eight million Namibian dollars (the equivalent of R8 million), as well as shopping centres on the Garden Route and in Pretoria priced at R45 million and R100 million respectively. Office blocks are also available in prime locations in Gauteng and Bloemfontein priced between R5 million and R48 million.


Issued by Gaye de Villiers



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