Guy de la Porte of Airport Property has sold another prime industrial property in Glosderry, Claremont Cape Town. With a rentable area of 850m² on a site of 1200m², this well located and tenanted industrial investment property was sold at R10.25 Million on an initial net initial yield of 8.5%. The property is fully let with 6 years remaining on the lease. The purchaser was a private property trust with substantial property holdings in the Southern Suburbs Industrial areas of Cape Town.
Property in Glosderry very seldom becomes available on a lease or sale basis and when it does it does not stay on the market for long. Glosderry is best known for Access park, which is South Africa’s most well known factor shop complex. Glosderry has excellent access to the M5 motorway and is situated opposite Kenilworth Centre. Guy de la Porte has concluded the following sales and leases in Glosderry:
