Queenstown prime industrial sites up for auction

Posted On Tuesday, 02 September 2014 13:48 Published by
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Aucor Property will hold its next multiple commercial property auction at the Maslow Hotel on the 17th of September 2014 at 12h00.

Queenstown

A total of 18 lots of commercial, industrial and retail stock will be for sale on the day with a combined market value of R100 million.

Included in the line-up, is two prime industrial sites located in Queenstown, in the Eastern Cape. Jonathan Aitken, Business Development Executive for Aucor Property comments, "The team at Aucor Property have brought properties from Queenstown to the auction floor with great success in the past and we are pleased to be able to offer our buyer base these two neighbouring fully let industrial properties which are for sale this month."

The sites are situated in the established industrial node of Queendustria, approximately 4km south-east of Queenstown next to the N6 Highway. The suburb is home to various distribution and warehouse facilities with Macsteel Roofing, JD Group Supply Chain Services and PPC all situated in the vicinity. Both sites are zoned for Industrial 1.

27 Stephenson Road – Queendustria

27 Stephenson Road is situated on 1.6880 hectares and has a GBA of 1878m2. The property features two workshop buildings which are linked by a middle shed. Both the workshops and a shed back onto a railway siding. The larger workshop has an office with a reception area and reception office, 3 stand-alone offices, bathrooms, a kitchenette and staff changing room. Additional features include 3 phase power, an underground fuel tank and 8 covered parkings.

29 Stephenson Road – Queendustria

29 Stephenson Road features a distribution warehouse facility with offices and a staff block. Located on a stand measuring 1.7067 hectares, the total GBA is 2361m2.
The warehouse has a vehicle access drive-through and loading platform facility with 3 roller shutters that provide access into the warehouse. In addition to this, the southern side of the building backs onto a railway siding with an additional 3 roller shutters facing the siding. This building also has a small double storey site office.

The office building comprises a reception area, meeting room with strong room, 2 x offices, toilets and a kitchenette. The property further features a staff block with change rooms and ablutions. Additional features include 3 Phase power; an alarm system; a diesel pump and underground tank and 8 covered carports Both properties back onto a railway siding which is currently not used, however the tracks are still active.

Aitken concludes, "These properties would suit an investor looking to gain a foothold into the area. Both properties are currently let to single tenants. The lease at 27 Stephenson Road expires in June 2015 whilst the lessee at 29 Stephenson Road has a lease that expires at the end of June 2017. Both have the option to renew for a further 2 years at a 10% escalation. This brings an advantage to a prospective buyer looking for stability in a let property."

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