Site Extent: ± 2.6929 Ha | Gross Annual Income: ± R1.9 Million | Fully let | 800 AMPS Power Supply | Zoned: Light Industry | Re-development opportunity for National Retailer or Blue-Chip Companies | Currently comprises mix use – mini workshops, retail, office and warehouse etc | Option to Purchase with neighbouring property – 58 Aloe Drive, Verulam
This fully let industrial property is positioned just off the M27 Main Road/Jabu Ngcobo Drive, at the entrance of the Waterloo Township in Verulam. The property in extent of 2.6929 Hectares overlooks the Cornubia Industrial and Southridge Industrial areas.
Fairly new developments with national and international blue-chip companies such as BP, Sasol and SPAR are positioned on the M27 within a 1 ½ km radius from the property. The property is surrounded by townships such as Waterloo, Riyaadh, Valdin Heights and Temple Valley with the population falling in the middle to lower income earning brackets. Waterloo alone has a population of over 30 000 people. This population has only the SPAR as their own national food chain retailer and as such this property provides the opportunity for one to re- develop to house another national food chain retailer example, Shop Rite Checkers, Boxer, Cambridge etc.
Being zoned Light Industry which permits Fuel and Service Stations, this adds to the value of the site however in the current use, the property generates approximately R160 000.00 per month. It has been in recent discussions that a new hospital is proposed to be developed within a 1 Km distance from the property.
The property currently comprises a retail building, an office building with warehouse, two buildings with approximately 30 mini-workshops (in total) and some tenanted industrial yard. Some tenants have been occupying the property for over twenty years. Tenants include hardware’s, motor mechanics, small engineering businesses, panel beaters to name a few.
This property provides one the opportunity to re-develop this property into a strip mall that can house tenants such as PEP, Checkers and Ackerman’s to name a few that will service a surrounding 100 000 homes.
Virend Deonarain
Show number
vdeonarain@in2assets.com
