Newly Revamped Hotspot in Jo’Burg Now for Sale
A newly renovated and strategically positioned open-air shopping centre in Craighall/ Hyde Park, Johannesburg will be sold by Galetti Auction via sealed bid. The Woods, previously known as The Colonyboasts blue chip long leases, a re-positioned tenant mix, a 160kWh solar system and a projected annual income of R18.35 million.
The property spans 11 887m2 and is located at 345 Jan Smuts Avenue, ensuring maximum visibility and high traffic volumes.
Own a retail centre in one of the city’s most sought-after areas
Leafy and upmarket northern suburb areas such as Rosebank, Hyde Park and Craighall continue to generate high demand and have contributed to Johannesburg’s commercial property resurgence in recent years.
Over time, more businesses have started to infiltrate these residential areas as the suburbanisation movement continues. Here, businesses opt to move to suburbs like Craighall based on factors like cost and convenience.
The area’s biggest drawcards would have to be its large family homes, quality education facilities, security, a strong sense of community, well-maintained parks, restaurants and cafes, tree-lined streets, convenient proximity to major roads and other business hubs such as Randburg, Woodmead, Sandton and Rosebank.
In 2022, this well-appointed centre – owned by Laudecento Pty Ltd and developed by Cadastral Capital – underwent a major facelift and later that year announced that Checkers Food and Liquor Store would sign on as its anchor tenant.
The centre has also long been home to one of the city’s most popular Italian restaurants, Pronto and more recently the likes of Besos and Liberté, further strengthening the restaurant scene in the area. It’s also still home to the original Colony Arms – one of Jo’Burgs most loved pubs and restaurants. Rounding out the strong tenant mix is Dischem Baby City and Dial-a-Bed.
Submit your bid
With a monthly income of around R1.5 million per month, we believe that this property will entice investors and landlords from around the country. We welcome competitive bids up until 29 February 2024.
Contact Guy Dowding to find out more | guy.dowding@galetti.co.za
