The SARS office in Germiston will soon be vacant, offering investors 9 000m² of lettable space with development potential. The property has been well maintained as a services office; being home to the South African Revenue Service for a number of years.
Plans to turn the property into 158 residential units have been drafted and are ready for approval. With the entry level accommodation sector set to boom, many commercial buildings are being converted to residential accommodation. This huge demand for accommodation has been triggered by workforces migrating to Johannesburg and the subsequent shortage of accommodation.
The property, located on the corner of Plantation, Lambert and Victoria Roads in Georgetown, Germiston, is situated diagonally across the road from the very busy Golden Walk Shopping Centre, which offers a strong public presence in the area and good passing trade. The property presents a great investment opportunity, with multiple options and huge scope going forward.
The auction is taking place on Thursday 10 June 2010 at 12pm at the Wanderers Golf Club, corner of Corlett Drive and Rudd Road, Illovo
