Johannesburg CBD, is one of the main business centres of Johannesburg. There are significant movements to revive the area. The subject property is located within the area of City and Suburban which is a suburb of Johannesburg. It lies just east of the City Centre. The area is comprised of both a residential and business area. The area that is currently the Central Business District has been the central area of Johannesburg nearly since its inception. Its central location in the city as well as careful planning led to it being chosen as the best location for residential and commercial development. City and Suburban is a thriving business node and offers a wide variety of services.
The subject properties offer twelve adjoining erven measuring 3,964 m² in extent, comprising an entire industrial block facing Greene, Phillips, Durban and Albert Streets. The buildings comprise of steel structures with brick infill, which have been plastered and painted. The buildings have concrete flooring and a combination of IBR and corrugated iron roof. The entire portfolio is multi-tenanted and the properties hosts of a total of 15 light industrial buildings:
• Erven 733, 734, 739 and 740 is improved with 5 rectangular-shaped double volume industrial buildings each with a mezzanine floor, all of similar size.
• Erven 737, 738, 743 and 744 is improved with 5 rectangular-shaped double volume industrial buildings with mezzanine floors, however the sizes of these industrial units differ.
• Erf 735 and 736 hosts a double storey warehouse building as well as a double volume workshop with offices and ancillary outbuildings hosting ablution facilities.
• Erf 741 hosts 2 x double volume workshops each with two sets of mezzanine floors.
• Erf 742 hosts a double volume workshop with a mezzanine floor as well as ancillary outbuildings hosting ablution facilities, this building further hosts a lean-to structure.
The general use across all of these properties is light industrial; warehousing, fitment, mechanical work as well as panel beating. The properties are versatile in that they can remain in their current form but they offer massive re-development potential. The location of these properties are key and offer a variety of possible uses.