prime site for auction

AUCOR has been commissioned to auction a prime industrial property in Nigel that offers the rare opportunity of having a rock solid tenant in place.

AUCOR has been commissioned to auction a prime industrial property in Nigel that offers the rare opportunity of having a rock solid tenant in place.

The 3,71ha property, with a gross leasable area of 3501m², is located in Vosterskroon, an industrial node in close proximity to Nigel's CBD and the N17 and N3 highways.

According to Ari Ben, property consultant at Aucor, the tenant is a long-established leader in the granite processing industry, mining large stone from quarries in Namibia, which are processed in Nigel and then sold locally and abroad.

Ben says it has a proposed 10-year triple net lease of R250000 a month, 10percent annual escalation, all expenses paid by the tenant and expected sales growth of 15percent a year to 2014.

"When investing in a property of this nature the strength of the tenant is paramount, and in this instance the tenant is absolutely secure."

The auction will take place on site on Wednesday, August 5 at midday.

l For further information log on to www.aucor.com or contact Elan Zwick on 082 945 7499 - or Aucor's call centre on 011-237-4444.

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