Internationally Tenanted Industrial Property, 4 Chloorkring, Alton, Richards Bay
Extent: ± 1.0722 Ha | Investment property | Long term international tenant | Gross annual income: ± R 4.2 Million (including recoveries) | Easily accessed off John Ross Highway
The subject property is situated on the southern side of Chloorkring Road, the road leads to Copper Corner, a cul-de-sac, in the well-established Alton South industrial area of Richards Bay. The area is characterized by large general industrial type properties. The property is well accessed with three entrances from both Copper Corner & Chloorkring Road.
Richards Bay is a thriving harbour town, situated on the North Coast of Kwazulu Natal. Industry plays a pivotal role in the greater economy of Richards Bay and the area is well-established with a variety of general industrial nodes. Richards Bay contributes significantly to the uMhlathuze Local Municipality which is the third most important in the province of KwaZulu-Natal in terms of economic production (GDP) and total employment. The N2 is accessed easily via the John Ross Highway to the East & R619 to the North linking Richards Bay to the North and South respectively. In addition, The John Ross Highway links Richards Bay directly to Empangeni creating an important thoroughfare inland.
All modern amenities and public transport are set within the Richards Bay Central Business District. Richards Bay has seen a large increase of permanent residents as a result of the significant development in the area, the evidence of which is seen in the re-developed Richards Bay Country Club, which will provide for new upmarket residential dwellings set on the existing golf course.
The International tenant have occupied the property for the past 14 years. They are the sole tenants of the 1.0722 Ha property which comprises of workshops, storage areas and offices.
The tenant operates as an industrial engineering Group, which designs and supplies machines, process equipment and production lines for the world’s largest industrial groups including the aluminium, steel, glass, automotive, aerospace, logistics, cement and energy sectors. A new lease has just been signed for a further 3 years.
The property is in great condition and has been well maintained throughout the lease period. The harbor and mining town also has the benefit of a busy Port which adds to the demand for property in the area. This property offers a great opportunity for investment with a sound and committed tenant.
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