De La Porte Property Group has sold a unique industrial property with excellent development potential in Montague Gardens for R6 Million.
The property is let to an international tenant with the lease expiring in two years time. Based on the contractual rental, the net initial yield is 9.8%. The property has been sold to a building company, who intends to redevelop and occupy the property in the future. The property lends itself to redevelopment in that a warehouse can be erected behind the office block, it will allow for either a single unit with a central office block and separate receiving and dispatch doors or two smaller units.
Investment properties are in high demand in Montague Gardens which is one of Cape Town’s most popular areas for warehousing, distribution and service businesses. Montague Gardens is situated in the rapidly growing West Coast growth node.
De La Porte Property Group is a niche, location-based industrial & commercial property brokerage. We are based in Milnerton and focus on the following main services in Montague Gardens, Century City and surrounding areas in Cape Town’s rapidly growing West Coast Growth nodes such as Atlantic Hills, Atlas Gardens, Killarney Gardens, Montague Park, Richmond Park and Rivergate.
Leasing of industrial and commercial property: units in mixed-use business parks, logistics properties, warehouses, factories and offices
Sales of industrial and commercial property: units in mixed-use business parks, logistics properties, owner occupier, tenanted investment properties and vacant land.
