Airport Property has sold 109 Manhattan Street, Airport Industria , Cape Town to a private investor for R29,500,000.
The GLA of this prime industrial property is 4048m² on an erf measuring 5,675m². The property was sold as a going concern and was zero rated for VAT purposes, as it is fully let to two tenants. In addition to the rentals, this property enjoys considerable advertising revenue from billboards due to its massive frontage on the approach road to Cape Town International Airport. 109 Manhattan Street, Airport Industria, was sold at an initial yield of 9.5%.
The transaction was concluded by Guy de la Porte, who has sold this property twice in the last 5 years. Tenanted investment properties like this are seldom displayed on Airport Property’s website, nor are they advertised on property portals. Guy de la Porte has built up a substantial database of investors over his 36 years in the industry. Many of these investors are the second generation to his original clients.
- Airport Property is a niche, location-based industrial & commercial property brokerage. We are based in Airport Industria and focus on the following main services in Airport Industria:
leasing of industrial and logistics properties, warehouses, factories and office
- sales of industrial and logistics properties, owner occupier, tenanted investment properties and vacant land Read More…
Do you need to rent warehouse space in Airport Industria? Please visit our dedicated web page where you can search and filter our property listings here. We always strive to keep our property listings up to date.