Checkers section of the Palmhoff building sold

Nathan Brajtman of Diamond Properties recently sold the Checkers section of the Palmhoff building in Kloof Street, Cape Town to a property syndication. The property was sold for R10,000,000.00 on a 8% yield. Brajtman said that the buyers recognised value at this yield based on the rate per square metre. Commercial property in Kloof Street is extremely sought after with very few opportunities being available in the market. Vacancies are at close to zero and buyers are paying premiums to obtain opportunities in the area. It is very rare that an opportunity with a national retailer in such a high density area is brought onto the market. For further details contact Brajtman on 4340001.