South African corporates continue to face multiple macroeconomic challenges, forcing them to reassess their current business models. These assessments often lead to a business having to restructure itself, which may bring about the sale of properties that are no longer serving the new business model or agreed upon direction.
Elias Tzouvanni, Nexus Property Group (NPG) Co-Director, says that the disposal of such properties creates opportunities for other businesses to take advantage of assets which would otherwise never be on the market.
One such example that Tzouvanni mentions is the corporate disposal of a former motor showroom in Gauteng.
“Located on the high traffic corner of Westinghouse Boulevard and Edison Road, Vanderbijlpark CE 6, this former motor show room is being sold by a listed entity as the business unit operating from the site has been moved. Offers for this property must be submitted by 28th November 2017.”
Tzouvanni explains that the reasons for the sale in this instance are quite simply related to macroeconomic factors which have led the company to downsize across the board.
“This, however, presents an opportunity for local businesses – particularly owner-occupiers.”
“Extending over 2 450 m², the property has a Gross Lettable Area (GLA) of 3100m2, consisting of a ground floor (2 050 m²) and first floor (1 050 m²). Being sold with vacant occupation and boasting ample parking, this property also has great exposure and offers easy access to the R42 (Barrage Road).”