Description
Steeldale Industrial Park
Mini-industrial Park for Sale:
Consisting of 12 units of fully tenanted B-grade industrial space accumulating 5 893m² of GLA, this acquisition opportunity offers investors a historical NOI yield of +-11.18% at a purchase consideration of R 19.50mn (+- R 3 309/m²).
As of 1 February 2021, rental rates for industrial properties across all grades in Steeledale and surrounding areas were estimated at approximately R 45/m². This rate appears to be reflective of the rent/m² for prime industrial properties in this area of roughly 5 000m² as per findings in late 2020. Although not a prime-grade property, this investment opportunity currently operates at full capacity at a prime average rent/m² of +-10% below market for the area (soft rentals). In addition to the 12 units that make up the GLA of the property, there are also various garages and storage units from which rent is collected, resulting in more significant revenue streams for potential investors.
The site offers excellent features such as ample delivery space, yard space of +- 2 000m², parking in front of each unit, large roller shutter doors, and 3 phase power.
Furthermore, Steeledale is a well-known industrial node situated in the south of Johannesburg. The subject property itself is of excellent locality as it is located close to:
National Routes – N12 (+-4.00km), N17 (+-4.00km)
Other Industrial Nodes – Selby (+-8.60km), Germiston (+- 9.40km), Alrode (+-10.00km)
Johannesburg CBD (+- 8.50km)
OR Tambo (+- 24.30km)
This is an opportunity that should not be missed! Contact me for more information regarding this investment opportunity.
