Among the lots for Reliance Auctions’s multi-property sale in Joburg on November 19 is a prime property in the Free State town of Vrede where the company has for disposal, not only the major local shopping centre, but also one of the most prized properties in SA at present - a filling station.
On offer will be the Spar Centre at 33 Church Street and the complex’s MBT filling station. The Spar Centre, with 42 retailers, has had Spar as anchor tenants for the past 15 years, with a five-year renewal option. The MBT filling station has also operated from the premises for 15 years and holds an even longer 10 year renewal option.
David Soutter, chief executive of Reliance, says Vrede is the agricultural hub of a large area where maize, wheat, mutton, wool, beef, dairy products and poultry are farmed.
“The complex is on the main arterial into the town and inevitably plays a major role, both domestically and business-wise, for all these farmers, their families and staff. The property has a gross lettable area of over 5300m² and tenants will never be hard to find in this centre which is in perfect condition,” Soutter states.
He says the strong national demand for filling stations by property investors is because fuel retailing is relatively recession-proof.
“The fuel retail sector has grown consistently in recent years and has survived ratings agencies’ downgrading, poor performance by the rand and the negative economic growth rates South Africa has had to contend with in recent years.”
MBT Petroleum is a leader among South Africa’s non-refining wholesalers and has commitments to transformation in the industry as well as providing “greener” fuel in future.
The Spar Centre and MBT filling station, on a plot of almost 12000m², will be auctioned as one lot subject to an undisclosed reserve price.
For more details about the auction and other lots on offer, call George John at 0762136100 or email [email protected].