Triple Net Investment in Durban South

AUCT-001612 | SOLD

Triple Net Investment in Durban South

28 Milner Street, Jacobs, Durban, KwaZulu Natal

Triple Net Investment in Durban South. 28 Milner Street, Jacobs

Extent: ±10 532 m² | GLA ± 9 844 m² |Net Annual Income: ± R5 Million (Including recoveries) | Triple Net Lease | Corner property with good access | High Power supply | Varying height up to 7.5m


The property is well-situated on a large property on the corner of Balfour and Milner Roads, in the Jacobs industrial node. Jacobs is located within the greater South Basin Industrial region. This Industrial node is bisected by the Southern Freeway (M4) and is situated south of the Durban Harbour (the busiest Port in Africa) and north of the old Durban International Airport.

The property is easily accessed from the M4 Southern Freeway, Exit 7, Quality Street/Mobeni/Jacobs offramp. From Quality Street, left into Balfour Road, and right onto Milner Road.

The area has experienced increased demand due to the completion of the upgrading of the Quality Street intersection with the M4. The local vicinity offers most modern-day amenities and public facilities with Quality Street providing access to any amenities that may not be in the immediate location.

Developments found here are typically of an industrial and a manufacturing nature but also include some offices. This node is characterized by established and emerging tenants and/or owner-occupiers. Jacob’s industrial precinct is wedged between the residential areas of Wentworth and Merewent to the south, Montclair to the west and the Bluff to the east.

PRIMARY USE

This property provides an excellent investment opportunity with an established tenant with a triple net lease providing a current gross annual income of ±R4.2 million including recoveries. The tenant has been in occupation of the property for over 30 years.

This large industrial corner property enjoys a great location in Jacobs, close to the harbour, easy access from the freeway and functional industrial space with good power and height.

The property’s main entrance is accessed from Milner Street via steel gates with manned security, and multiple roller shutter access from Balfour Road.

The factory provides ±10 000m² gross lettable area, and comprises of various work areas, boiler rooms, stores, staff canteen areas and ablution. There are approximately ±7 roller shutter doors with varying heights, to facilitate receiving and despatch, with possible superlink access for loading and offloading.

The large building provides different sections to the warehouse with varying heights. The height ranges but is 7.5m at the apex. The ceilings have a galvanized steel purlin structure, is served with a sprinkler system and has sisalation foil with fluorescent lighting, and multiple fixed wall fans, with good load bearing floors.

Ample 3-phase power supply provides ±1 400 Amps with a sub-station within the building.

The steel mezzanine level within the factory belongs to the tenant, as well as a list of plant and machinery and furniture and equipment provided by the tenant.

The offices are proportionate to the warehouse offering an appropriate, usable size. They are split over 3 levels and offer air-conditioned offices fronting Milner Road. The office component comprises of enclosed and open offices, boardrooms, kitchenette and ablutions. Ample parking bays are provided in front of the building,

The fencing on the property comprises concrete and barbed wire fencing. The property is secured with an alarm system, and CCTV cameras.

Commercial Type:
Industrial Property
Web Reference:
AUCT-001612
Final price:
POA
Address:
28 Milner Street, Jacobs, Durban, KwaZulu Natal
Auction Venue:
Mount Edgecombe Country
Mount Edgecombe Country Club Estate
Mount Edgecombe
KwaZulu Natal
Auction Date:
23 March 2022 11:00 am



Auctioneer:
Andrew Miller
Auction Terms and Conditions:
R 50 000 refundable registration deposit. Strictly by EFT. No cash. FICA Documents are required

Bidding opens in


Auction Date: 23 March 2022 11:00:00am


Luke Hearn
                                                         In2assets Representative

Property Agent


Luke Hearn
Show number
[email protected]


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