Investor Opportunity. 8 Lyn Road, Strijdom Park, Randburg
Currently Builders supply Depot with Storage facilities, retail shop and offices | Good Access And Road Frontage | 5 Year Lease With Future 5 Year Renewal | National Blue Chip Tenant | Gross Annual Income: R 1 296 000.00
Although the subject property is located in an extension of Ferndale, it effectively forms part of Strijdom Park which is a well-established light industrial & Commercial node situated approximately 8 km west of the Randburg CBD and directly east of the N1 highway. The node caters for small to medium light industrial as well as commercial users. The central location of Strijdom Park continues to make it a preferred location for many small scale manufacturing, warehousing and distribution companies.
Access to the subject property is regarded as very good, with easy access to the N1(Ben Schoeman Freeway) via the Malibongwe Drive on and off ramps, situated approximately 1km to the north.
The subject property is situated on Lyn Road in the southern part of Strijdom Park, only one property west of the intersection with Malibongwe Drive. Access is obtained from Lyn Road running to the south of the site. Properties in the immediate vicinity comprise mainly of small and medium sized light industrial premises, with limited yard space. The majority of properties are in average to good condition. Amenities such as retail facilities, filling stations and a Post Office are all situated in the near vicinity of the site, and public transport opportunities abound on the nearby Malibongwe Drive.
The subject site comprises of two smaller, double storey buildings on street front, with a central courtyard area and open-sided material stores surrounding the courtyard area. The buildings on street front provide a retail shop area, offices, store and staffrooms.
Additional IBR lean-to storage areas have been added to the rear of the site and shade-net parking is available on street front. The site is currently used as a building materials depot with a small shop and offices. The property currently is leased by a national blue chip company, The Building Supply Company. The lease is a strong 5 year lease, commencing in July 2020 with a rental of R108 000.00 per month excluding VAT. The lease also has a 5 year renewal.
The property offers a great investment opportunity to the market.