Two major industrial property transactions, representing a mini portfolio of investment properties, have been concluded by Leif Eriksen, leasing and sales director of Pam Golding Commercial at a total value of R42 million.

Situated in Epping in the Western Cape, the two properties, which were each sold for R21 million, were previously owned by a Port Elizabeth investor, who wished to consolidate his investments in Port Elizabeth itself. Both properties were purchased by Oasis Crescent Property Fund.

The first property is a 20 842sqm warehouse in Moorsom Avenue in Epping, occupied by Seyfert Corrugated and the Coricraft factory, while the second property is a 20 212sqm warehouse in Sacks Circle, Epping, tenanted by Carnoud Metal Box factory and Rennies Cargo Terminals.  All the tenants in both buildings remain in place - with three tenancies having recently been
renewed.

Comments Eriksen:  "There is an increasing demand for industrial properties, and these transactions were identified as significant investment opportunities.  Being a conveniently situated, key industrial area, Epping is enjoying a strong demand for such properties, and with very little vacant space and limited land available for development, this is further boosting
the demand and putting upward pressure on rentals."
 

For further information contact Leif Eriksen of Pam Golding Commercial on
021 4177878.

Ends

Issued by Gaye de Villiers

Tel: 021 6837788 or 083 325 1939

On behalf of Pam Golding Commercial