Web Ref CL13835
R8,400,000
None 1-4 Manhattan Park
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Prime Industrial Property with Refurbishment & Investment Potential – 36 Manhattan Street, Airport
Take advantage of this exceptional opportunity to acquire and refurbish 36 Manhattan Street in Airport Industria, a property located in the sought-after Airport Industria This industrial complex offers significant value for investors and developers looking to unlock upside through higher rentals in one of Cape Town's busiest industrial areas.
Key Property Features:
- Erf Size: 1,803 sqm
- GLA (Gross Lettable Area): 1,111 sqm
- 4 Industrial Units: 284 sqm, 280 sqm, 275 sqm, and 272 sqm
- 3-phase power: Each unit looks to have 150amps
- 700sqm Yard: Perfect for parking, storage, or operational expansion
- Current Tenants: 3 tenants; 2 on short-term leases and 1 tenant with a lease until 2026
- Rental Income: R62,000 per month (excl. VAT)
- MTN Tower Income: R119,018 per annum
Refurbishment & Development Potential: With industrial demand in the Western Cape continuing to rise, 36 Manhattan Street presents a prime opportunity for refurbishment. Investors could achieve rental rates of R85/sqm to R90/sqm within 6-12 months post-refurbishment.
Flexible Configuration: The property also offers the option to reconfigure the existing units into two larger units, with the front unit benefiting from better road exposure and a larger yard. This flexibility makes it ideal for attracting quality tenants looking for more expansive, well-positioned spaces.
Investment Highlights:
High Demand Location: Airport Industria is a thriving industrial node with continuous rental demand from logistics, manufacturing, and warehousing sectors.
Upside & Income: While negotiating tenant exit terms, investors can continue to enjoy rental income, including revenue from an MTN tower on-site.
Asking Price: R8,000,000 (VAT Zero-Rated)
This property offers the chance to create a strong-yielding property with long-term capital growth potential, making it an ideal investment for those looking to capitalise on the industrial boom in Cape Town.
Disclaimer: The above financial information must be confirmed during a Due Diligence period.
Key Property Features:
- Erf Size: 1,803 sqm
- GLA (Gross Lettable Area): 1,111 sqm
- 4 Industrial Units: 284 sqm, 280 sqm, 275 sqm, and 272 sqm
- 3-phase power: Each unit looks to have 150amps
- 700sqm Yard: Perfect for parking, storage, or operational expansion
- Current Tenants: 3 tenants; 2 on short-term leases and 1 tenant with a lease until 2026
- Rental Income: R62,000 per month (excl. VAT)
- MTN Tower Income: R119,018 per annum
Refurbishment & Development Potential: With industrial demand in the Western Cape continuing to rise, 36 Manhattan Street presents a prime opportunity for refurbishment. Investors could achieve rental rates of R85/sqm to R90/sqm within 6-12 months post-refurbishment.
Flexible Configuration: The property also offers the option to reconfigure the existing units into two larger units, with the front unit benefiting from better road exposure and a larger yard. This flexibility makes it ideal for attracting quality tenants looking for more expansive, well-positioned spaces.
Investment Highlights:
High Demand Location: Airport Industria is a thriving industrial node with continuous rental demand from logistics, manufacturing, and warehousing sectors.
Upside & Income: While negotiating tenant exit terms, investors can continue to enjoy rental income, including revenue from an MTN tower on-site.
Asking Price: R8,000,000 (VAT Zero-Rated)
This property offers the chance to create a strong-yielding property with long-term capital growth potential, making it an ideal investment for those looking to capitalise on the industrial boom in Cape Town.
Disclaimer: The above financial information must be confirmed during a Due Diligence period.
Features
Zoning
Industrial
Title
Sectional
Interior
Power (Amps)
600
Exterior
Security
No
Sizes
Floor Size
1,111m²
Land Size
1,803m²
STREET MAP
STREET VIEW
Airport Industria, Cape Town
Welcome to Airport Industria As the name implies, Airport Industria is situated adjacent to Cape Town International Airport and offers all the advantages of proximity to the air freight terminal. The area also boasts easy access to arterial routes that lead to every corner of the Western Cape and far beyond. Airport Industria is home to various industrial parks and has an ideal home to offer every industrial...
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Airport Industria in the news
Annenberg Property Group Celebrates Its 50th Year In Commercial And Industrial Property In Cape Town
Established in 1972, 50 years later, in 2022, Annenberg Property Group enjoys 50 years of success in commercial and Industrial Property In Cape town