Name: Morgenster St
Sector: Warehousing
Location: Okavango
Size: 16 272 m2
This old industrial property – situated on the N1 opposite the Cape Gate retail precinct – is let to a wholly-owned subsidiary of PSG. There is a large yard and 6000 m2 GLA on an Erf of 1.6 hectares. The Brackenfell/Okavango area is a strong industrial location, experiencing a change of use to service retail, representing the medium-term possibility of strong rental and capital growth as the transformation takes hold.
NOTES – The property was purchased on an approximate gross yield of 9.65%. The premises can be occupied by one national tenant and in a strong location with ample yard.
