Investors and business owners are gearing up for the on-site auction of industrial property situated in the East Lynne industrial area of Pretoria on 31 May 2017. A 2 506m² warehouse, which covers the majority of the property and is clearly visible from one of Pretoria’s busiest highways, offers excellent exposure. Sold with vacant occupation, this well maintained property is suited to an end-user or owner-occupier.
Located at 730 Darling Street in Waverley, the property extends over 2 873m² of Gross Lettable Area (GLA) on a 7 134m² site and boasts a large yard as well as the warehouse, which is in excellent condition and has double volume height. The property is positioned in very close proximity to a prominent taxi rank and bus station, making it ideal for a business – such as a cash and carry store or wholesaler – that could benefit from the high-volume foot traffic during early morning and late afternoon rush hours.
Greg Nafte, Director of Nexus Property Group (NPG) says that opportunities such as this one do not present themselves very often in the East Lynne industrial node as the area comprises of only a handful of properties which tend to be quite tightly held. “Many of the businesses in the area are already established, which means the trade of property occurs infrequently if at all. This property has only come under the hammer as a result of a multi-national logistics company consolidating its operations,” says Nafte.
He explains that the neighbouring industrial nodes of Silverton and Waltloo are extremely desirable and have seen some of the highest rental rates per square meter achieved in the Gauteng province, making property in the East Lynne area a key long-term investment with sustainable rental growth.