August 2017: Nexus Property Group will auction off a well-maintained, tenanted warehouse in Deal Party – a desirable industrial node in Port Elizabeth housing strategic operations for brands such as Nissan, Nampak, Afrox and PPC Cement. The auction of this property will take place on Monday 21 August at 12pm at the Protea Hotel in Summerstand, Port Elizabeth.
With an erf extent of 1, 1594 hectares and a gross lettable area of 5, 417, this property presents investors with the opportunity to purchase an 84% tenanted warehouse that brings in an annual gross income of R1, 422,000 at market related prices and recoveries totaling R148, 205 per annum.
Greg Nafte, co-director of Nexus Property Group, says that the property is a great investment for property owners and developers looking to expand their business portfolios. “2, 409m2 of the gross lettable area is occupied by tenants on medium to long-term leases. With 1, 430m2 becoming vacant on transfer, this purchase offers investors an upside in terms of letting the vacant units and therefore increasing the potential annual income.
“The property also features easy access to two major highways and prominent national roads, a 24 hour onsite security system, ample parking and yard space, as well as multiple vacant units, ranging between 144m2 to 1400m2, which are able to accommodate a wide range of tenants. The property is currently occupied by 10 tenants of various business operations.”
Nafte concludes that due to the relocation of one of the partners, the sellers have decided to divest from the property as it no longer forms part of the company’s core investment strategy.
In order to participate in the auction, the purchaser will need to register for the auction and submit a R50 000.00 refundable deposit along with FICA documents. For any queries, please contact Greg Nafte on 083 414 4474 or firstname.lastname@example.org. The auction will be held at Protea Hotel in Summerstand, Port Elizabeth at 12h00 on 21 August 2017. For more information please visit www.nexusproperty.co.za.