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Industria – Multi-Tenanted Industrial Investment Property

CONTACT AGENT

George Mufandaedza
Expert Agent 072 091 7004 goergem@auctioninc.co.za 011 268 2681

CONTACT AGENT - 

George Mufandaedza | 
Expert Agent

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2019-02-28 11:30 2019-02-28 12:30 Africa/Johannesburg Auction for Industria – Multi-Tenanted Industrial Investment Property Auction for Industria – Multi-Tenanted Industrial Investment Property happening at 21 Edison Road, 1 and 3 Watt Street, Industria, Gauteng, 21 Edison Road, 1 and 3 Watt Street, Industria, Gauteng, George Mufandaedza goergem@auctioninc.co.za

Property Details

Property Type: commercial

Description

  • 19 mini-industrial units: Gross Let-able Area (GLA) = 10228m²
  • Total land size = 11 714m²
  • Zoned Industrial 2
  • At 92% occupancy current Gross Annual Income is R2, 990, 082.24
  • Gross Annual non-recoverable expenses are R703, 008.00
  • Gross Annual Net Income = R2, 287, 074.24
  • Additional Annual Income from current vacant spaces of R217, 404.00
  • Monthly electricity, water and sewage expenses are recovered from the tenants
  • SAPOA Capitalization Rate = 12%
  • Highly sought after area for spaces to let
  • Reason for selling – seller now wants to retire. It is for this reason that leases have not been renewed to allow new owner to start afresh with new leases.
  • Only two spaces are vacant because of renovations being done in them
  • Inside the building, there is concrete flooring and lots of natural lighting
  • There is a new concrete flooring outside the building, within the stand, covering pavements and parking areas
  • Two entrances with Guardhouses
  • Easy access for articulated vehicles
  • Ideally located close to the busy Main Reef Road in Industria

21 Edison Road, 1 and 3 Watt Street

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Auction Details

Auction Address: 21 Edison Road, 1 and 3 Watt Street Industria Gauteng

Auction Date: 2019-02-28

Viewing Start Time: 11:30

Auction Start Time: 12:30

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