Fully Tenanted Industrial Building With Great Yields

BIDDING OPENS AT R6,400,000.

ONLINE AUCTION

Bidding Start Time: Wednesday 31 July 2024 @ 09:00

Bidding End Time: Thursday 1 August 2024 @ 14:30

Registration is essential by Monday 29 July 2024.

Pre-Auction Offers may be considered.  Auction Finance Available.

For more information, please contact the listing agent.

DESCRIPTION:

This face brick three floor industrial building is set in the heart of sought after Maitland, with quick access onto all the major motorways makes this the desired investment. This is a sound property investment as the tenants have been there for over 10 years.

TENANT 1 GROUND FLOOR:

• Rental:  R17,850.00 per month
• Pre-paid electricity
• Lease till September 2025

TENANT 2 FIRST FLOOR:

• Rental:  R15,280.00 per month
• Pre-paid electricity
• Lease till September 2025

TENANT 3 SECOND FLOOR:

• Rental:  R22,145.00 per month
• Pre-paid electricity
• Lease till September 2025

GENERAL:

• Face-brick:  low maintenance
• Total income:  R56,275.00 per month
• Expenses:  R4,325.00 per month
• Nett income:  R51,950.00 per month
• Ample parking
• Each floor ±600m²
• Zoning:  MU2

DETAILS:

• Erf No:  106078, Cape Town
• Erf Size:  656m²
• Rates:  ±R1,400.00 per month
• GLA:  ±1,800m²
• Zoning:  Mixed Use 2

Web Ref:  715273

Transfer Duty Applicable

PAYMENT TERMS:

2.5% Deposit & 10% Auctioneers Fee (excl. VAT on fee), payable on the fall of the hammer by means of EFT only.  Balance payable on Transfer.

Ryan Hamburger |082 691 4915 | 021 425 8822 | ryan@claremart.com

Josh Raisun | 078 888 9534 | 021 425 8822 | josh@claremart.com

CONTACT DETAILS:

Auctioneer: Claremart Group

Contact No: +27 21 425 8822

Email: info@claremart.co.za