It is my pleasure to offer a sizeable and sturdy Industrial investment property for sale. This offering has a good, diverse set of long term tenants, reducing the risk of this investment. With the George Industrial market demand ever increasing and no growth cease in sight, this acquisition makes sense to an investor keen to secure a local footprint or adding a stable asset to an existing portfolio. Situated on a spacious 8,504 sqm busy corner stand in the heart of the old and established George Industrial area, there is a lot happening in the area, with decent traffic and active businesses.
This property has been under Multi Properties management for about twenty years and as such we have a good grasp on the history. As some might know the George Industrial market has seen
challenging times in the past, especially prior to Covid and as a result there have been some interesting tenant placements at very conservative rates historically in the George market. Consequently almost all the tenants currently occupying the property have been there for many years due to the favourable rentals currently enjoyed. The Sellers have always been very amiable towards their tenants and have kept escalations conservative. Current net yield on the asking price is just over 8%, but has massive potential to increase.
It is always nice for me to see rental rates below the market average, as this allows for significant growth and expected stability of rental payments and tenant demand. The Purchase price does not include Vat and this transaction will qualify as a zero rated going concern provided that the Purchaser is Vat registered. There is significant yield growth potential. Please contact me for more information. To any property professionals reading this - this is a sole mandate until the 26th of August, so feel free to contact me now for assistance or kindly wait until your opportunity.
Read more...
Photo Grid
Show Contact Number
