Neat well maintained Face Brick Structure with metal roof comprising 2 separate buildings.
Main Building has 2 tenants occupying the entire premises
Second building has 3 tenants in 3 separate workshops
Plans include a 3rd building which could be constructed and would add another 1100sqm of warehouse/workshop space to the existing 2049sqm premises.
Current Rentals achieved are R 96 273 per month but with the additional premises at the current R/sqm rate would increase to R 126 000 per month.
Utilities are billed to the tenants with monthly rental
This represents a 9,79% return on the purchase price.
The additional premises being built and tenanted would increase the return to 13% annual return on the total investment.