Airport Property has sold unique industrial property with excellent development potential in Montague Gardens for R 6 Million.
The property is let to an international tenant with the lease expiring in two years time. Based on the contractual rental, the net initial yield is 9.8%. The property has been sold to a building company who intends to redevelop and occupy the property in the future. The property lends itself to redevelopment in that a warehouse can be erected behind the office block, allow for either a single unit with a central office block and separate receiving and dispatch doors or two smaller units.
Investment properties are in high demand in Montague Gardens which is one of Cape Town’s most popular areas for warehousing, distribution and service businesses. Montague Gardens is situated in the rapidly growing West Coast growth node. More details on this property can be viewed here
Airport Property specializes in the central industrial areas of Cape Town which are located in the quadrangle between the N1 & N2, M5 & R300 Motorways. My primary area of focus is the Airport Industrial area then Epping, Maitland, Ndabeni, Parow and Bellville with a further focus on warehousing, distribution and logistics sales and rentals. I am also very active in tenanted investment property sales. With an established network of trusted associates, I am able to assist you with any of your industrial property needs in the greater Cape Town industrial areas including Montague Gardens, Brackenfell, Brackengate, Killarney Gardens, Rivergate & Richmond Park.