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Date: 05/12/2019          70 000     Commercial Property

Commercial Property for Sale in Randjespark

Commercial Property for Sale in Randjespark Commercial Property for Sale in Randjespark Commercial Property for Sale in Randjespark Commercial Property for Sale in Randjespark

Commercial Property for Sale in Randjespark
Midpark Industrial Park, 788 16th Street, Randjespark, Midrand

Midpark Industrial Park Is A Well Located Mini And Midi Industrial Park Offering High Visibility On 16th Road

PROPERTY SUMMARY
Net Annual Income for 2019 of C.R8.4million, underpinned by strong covenants.
Defensive asset class underpinned by strong growth fundamentals.
Occupied by blue chip tenants since its development.
Well maintained A-grade industrial space.
The subject property has a total site area of 2.52 hectares.
Multi-let facility comprising eight sections across multiple buildings (Section 4 to Section 11).
Tenure : Freehold.

LOCATION
Midpark Industrial Park is a well located mini and midi industrial park offering high visibility on 16th Road. The park offers easy access to the N1 via New Road and Olifanstfontein Road.

Midrand is situated 24 kms to the north of Johannesburg’s CBD and approximately 33 kms south of the Pretoria CBD. The suburb has been boosted by the introduction of the Gautrain, leading to new retail and office and residential developments in recent times. Midrand is home to a number of quality retail centres such as Mall Of Africa, Waterfall Corner, and San Ridge Square. These retail centres service the various residential areas in the suburb. Some of these residential areas include Waterfall, Noordwyk, Randjespark, and Vorna Valley.

Midrand is characterised as a predominantly industrial node. The Midrand industrial market continues to attract occupiers. This is clearly visible in the low vacancies achieved in the area. The area is well serviced by public transport including taxis and the Midrand Gautrain Station which is situated 4 kilometers from the park.

DESCRIPTION
The subject property has a total site area of 2.52 hectares. The property comprises of eight sections across multiple buildings (Section 4 to Section 11). Sections 1, 2 and 3 were sectionalised by the owners and sold some time back and therefore do not form part of the envisaged transaction.

There are 67 parking bays split between covered and uncovered bays. Entry into the property is via a security guard house. The buildings include roller shutter doors, seal warehouse floors, high bay lighting, insulated roofs, offices, restrooms and 3 phase power.

TOWN PLANNING
Zoning : Special
Permitted Use : Various Manufacturing Services
Height : 2 Storeys
Floor Area Ratio : 0.5
Coverage : 50%
Building Lines : 15m from the street boundary and 10m from all other boundaries.

GUIDE PRICE R70,000,000
BidX1 are selling this property in collaboration with Jones Lang Lasalle South Africa (“JLL”).

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