Multi Tenanted Industrial Property George
R22 000 000


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Agent: André Van Niekerk
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Property ID: 5269839
Area Size: 4107 m2
Power Availability: Three Phase
Bathrooms: 22
Kitchens: 21
ERF: 19686
Lot Size: 8504 m2
Monthly Rates: 8 111
Internet Access: ADSL
Nearby Public Transport: Buss and Minibuss Taxi
Wheelchair Accessibility: Yes
Height Of Roof: 7m
Parkings: 44
Natural Light: Yes
Location: Nywerheid Street, George Industrial, George, Western Cape, 6529
Height Of Dock Levellers: 1.5m
Height Of Eaves: 5.5m
Yard Space: 1000m2
Height Of Racking: 4m
Dock Levellers: 16
Roller Shutter Doors: 36
Height Of Roller Shutter Doors: 4m
Warehouse Space: 4107m2
Warehouse Price: R43 p/m2
Truck Access: Interlink


This property being managed by Multi Properties is a well oiled rental enterprise machine. With about 15 different tenants occupying various rental units in the building, the risk is nicely spread and monthly income is conservatively positioned to be secure. The rental rates are low compared to the rest of the market allowing for significant growth in the post-purchase rental renewals negotiations. George is booming with properties like this rarely available. This Seller considering selling is not an opportunity to be missed. Located in the bustling old-established Industrial area of George, your position and demand for rentals in the future are as guaranteed as can be. Practical high roofs and large doors all make like easier for the tenants with ample parking and movement available for vehicles. No vacancies and steady paying tenants, with foreseen growth, what more could you want from a stable investment. The yield of 8% net is based on the Selling price of 22 million. Price excludes Vat, but this property would qualify as a going concern at a zero-rated Vat rate with no Vat therefore payable provided that the Purchaser is Vat registered.