This old multi-let industrial property in situated in the prime and well-established Stikland area. It is ideal for rental sensitive manufacturing/warehousing occupiers who benefit from the central location and highway access in Cape Town’s Northern Suburbs. The park has a circular road with parking for trucks and was bought with net rentals in the mid-high 20s, so the recent steep escalation in Stikland rentals has translated into strong capital growth for the park.
The property was purchased on an approximate gross yield of 9.43%. A total of nine tenants can occupy the premises which is well located in an industrial park.