Investment / Owner Occupier
SOLD 9.75% yield. Property located off Forest Drive with frontage onto Howard Drive and Gardener Way. The building currently accommodates a 2 storey mixed use office block and warehouse.
The warehouse section eaves height varies between 5 and 6 meters. Access is via 2 roller shutter doors. The offices have a double volume entrance foyer which accesses 2 floors of offices (and also the warehouse).
Single national tenant ,Royal Serve which is is part of the Bidvest Group, lease runs till April 2020, 46 external Parking bays, potential to lay a slab over warehouse area for additional approx 2500 m2 of offices/warehousing.
Visitors parking in front of the building. Seller fitted new fencing so the property is fully enclosed, new central air conditioning unit (R150k) installed last year and a 60 Kwh solar generation plant. *please note this achieves an additional revenue average of R15 000/month and will be sold at an additional R1.5M to the asking price. The sale includes a 600kva generator.
The offices are mostly open plan . A portion of the offices to the first floor have conventional suspended ceilings with recessed lighting
Pinelands, Southern Suburbs
The southern suburbs is highly accessible due to the two major highways that service the area.
The Southern Suburbs are the suburbs located south of the City Bowl in Cape Town. They include Athlone, Philippi, Wetton, Lansdowne, Diep River, Capricorn Park, Ottery, Claremont, Constantia, Kennilworth, Mowbray, Newlands, Plumstead, Retreat, Rondebosch, Steenberg, Rosebank, Tokai,...
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