LOCALITY

The subject property encompasses an entire block, and is situated at 24 Railway Street, Parow East, Cape Town. Parow East is located in the Northern Suburbs, and is bordered by Voortrekker Road to the north, Francie Van Zijl Drive to the east, the railway to the South and Norden Street to the west. Parow East is located approximately 24 kilometres from the Cape Town City Centre and comprises of a mix of small, medium and large size industrial premises, as well as two shopping centres, being Shoprite Park and Parow Centre.

Parow East is well positioned south of Voortrekker Road, providing quick access to the N1 Freeway and in turn access to the Cape Town City Centre or to the Port of Cape Town. Voortrekker Road also allows for access to De La Rey Street, which connects to Robert Sobukwe Road and in turn the N2 Freeway, providing access to the Cape Town City Centre, Port of Cape Town and Cape Town International Airport. The subject property enjoys access from Railway Street, Kirsten Street, Fairbairn Street and Huguenot Street.

All necessary amenities are offered within close proximity, including a variety of petrol stations, shopping centres, schools and medical facilities. Tygerberg Station is situated diagonally across the road from the subject property.


PRIMARY USE

This industrial park is located in Parow East, Cape Town. The property is situated on a ± 5,945 m² size erf and is improved with multiple buildings, comprising of 16 units, of which the total lettable area is ± 4,320 m². The erf is accessed from Railway Street, Kirsten Street, Fairbairn Street and Huguenot Street, and is located diagonally across from Tygerberg Station.

The property comprises of multiple buildings offering a combination of warehouse/workshop and office space. The buildings are constructed of brick and IBR cladding, under pitched and/or saw tooth asbestos and IBR sheeting roofs. Site improvements include demarcated parking bays wrapping around the property as well as a gated concrete driveway, which is accessed from Kirsten Street.

The property is currently tenanted by 16 tenants with a gross income including recoveries of ± R2.4m per annum.

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