2017: Nexus Property Group received instruction to auction two commercial properties in the Northern Suburbs of Cape Town. The first property, a mixed-use commercial site located in the central residential node of Goodwood, a unique offering as it includes a factory with reception and offices in excellent condition, while the second property comprised a warehouse in the main industrial node of Killarney Gardens.
Both commercial properties were auctioned off on 18 July 2017. The auction presented both property investors and potential owner occupiers with a chance to acquire commercial property within two leading Cape Town locations.
Details on the commercial properties sold:
- Mixed-use commercial facility in Goodwood, 23 Kimberley Road
After over 20 years of operating their business from the premises, the former owner vacated to expand their business operations. The commercial property was sold with vacant occupation. It offered owner occupiers an opportunity to acquire a unique asset that had been well maintained and offered both commercial, as well as industrial facilities in an area where unique properties such as this are seldom available.Located a mere 40m from Voortrekker Road – offering access from several main transport routes including Voortrekker Road, Jakes Gerwel Drive as well as the N1 and N2 highways – the commercial property boasts several notable features, such as 150 amp electricity supply, roller shutter access, as well as a goods lift and off-street parking.
The City of Cape Town is intending to invest several millions in funding and upgrading in order to stimulate growth and improvement in the area, and the Voortrekker Road City Improvement District has already seen positive upgrades such as CCTV installation in the Goodwood area.
- Industrial property in Milnerton, 104 Kyalami Drive, Killarney Gardens
Situated in Killarney Gardens, the warehouse has an erf extent of 1025m2 that includes a gross lettable area of roughly 720m2. Having become available due to corporate restructuring, this auction presented buyers with an opportunity to acquire industrial property within an area that is in high demand.At the time of the sale, the property was tenanted and offered an attractive initial yield on a conveniently located asset, making it perfectly suited to investors looking to enhance the value of their portfolio.