Photo by: Bloomberg
Web-based property trading portal Quoin Online has been granted an exclusive mandate to sell two office parks in Rivonia, Gauteng, which form part of a large listed property fund’s portfolio.
Devcon Place and Pavilion Office Park, situated in the Rivonia office precinct, are multitenanted, with more than 7 300 m2 of available space for sale.
“The size and the stability of the tenants present an ideal investment opportunity,” Quoin Online director Karen Miller said.
Quoin Online CEO Wayne van der Vent added that the company saw substantial growth among property funds through amalgamations and acquisitions, resulting in large portfolios that needed to be assessed and realigned.
“This movement in the market provided favourable conditions for smaller funds and private investors to build their portfolios. You have to be cautious in the property market but you can’t be slow.
“Disposing of these assets through Quoin Online benefits both the seller and buyer in streamlining the whole process. The property disposal process was used successfully with Fountainhead Property Trust and the Hospitality Property Fund,” he added.