Combined Site Extent: ± 18 828 m² | GLA: ± 7 300 m² inclusive of yard areas | Fully tenanted - Gross Annual Income: ± R1 145 000| Zoned: Light Industrial | 20 Lettable areas with 13 tenants | Available bulk for further development: ± 6 000 m²
This property is made up of three portions namely Erf 455 Margate which is zoned light industrial measuring ± 16 116 m², Portion 10 of Erf 4 Ramsgate which is zoned office measuring ± 1138 m² and Portion 5 of Erf 4 Ramsgate which is zoned residential measuring ± 1577 m². The property is generating a substantial income from its 20 lettable areas of which 4 are yard areas. They are occupied by 13 tenants. There is potential to increase this income through development of the two vacant adjoining sites (Portion 10 of Erf 4 Ramsgate and Portion 5 of Erf 4 Ramsgate) with a potential bulk of ± 6000 m². On average each tenant has an 8% escalation every year. The property is fully tenanted with the Seller of the property using a single workshop. Most tenants have been in occupation for over 5 years and the national tenant anchor tenant being in occupation since 1988.
The property is located in a prime Margate industrial area. It is positioned near the main taxi rank and around the corner from the local police station. The property is situated between the local airport and the Indian Ocean, just above the hustle and bustle of Marine Drive in Margate Central. Margate Industrial Park is positioned within walking distance from the Hibiscus Shopping Mall.
Easy and quick access to the N2 Freeway can be obtained via the R620 Main Road. All modern amenities can be found with a radius of 5km from the industrial park.
Virend Deonarain
Show number
vdeonarain@in2assets.com
