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Malvern East – Multi Tenanted Industrial

CONTACT AGENT

Mike Walters
Expert Agent 083 601 8477 mikew@auctioninc.co.za 011 268 2681

CONTACT AGENT - 

Mike Walters | 
Expert Agent

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2019-03-07 11:00 2019-03-07 12:00 Africa/Johannesburg Auction for Malvern East – Multi Tenanted Industrial Auction for Malvern East – Multi Tenanted Industrial happening at 48 Stanhope Road, Malvern East, Germiston, Gauteng, 48 Stanhope Road, Malvern East, Germiston, Gauteng, Mike Walters mikew@auctioninc.co.za

Property Details

Property Type: commercial

ERF Size: +-12462

Description

Address: #48 Stanhope Road, Malvern East

GLA: +-12 462 m2

The large industrial park on Stanhope road in Malvern East, close to Cleveland, in an established industrial node in Gauteng South, close to the major intersection of the N3 & N3 highways. The property size is +-16 187m2.

The property is made up of 4 main sections. The double storey building on Stanhope road has retail downstairs and office (pot. Resi conversion) upstairs. On the eastern side of the property is a driveway which provides vehicle access to three sections. The warehouses on the right-hand side and the main workshops at the back (Wood Worker). The 4th area is outside the main walls and seems to be part of the Sandpit property, but is in fact rented from the Owner. This can be seen on the aerial images and extends 12-18m into the Sandpit property.

These sections are rented to various tenants and make up the rental income. Currently, 80% or 9081m2 of the property is occupied and 20% or 2327m2 is vacant. As of January rent roll, there are +-10 tenants located on the premises. The average rental rate being collected is +-R15.16 m2 which is low for the area and represents an upside opportunity.

  • Auction on site: # 41 West Street, Houghton
  • 7th March 2019 @ 12:00
  • Viewing by appointment.
  • Pre-registration: Contact Property Specialist
  • Registration from 11:00am.
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Auction Details

Auction Address: Masingita House, 41 West Street Houghton Estate Gauteng

Auction Date: 2019-03-07

Viewing Start Time: 11:00

Auction Start Time: 12:00

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