The joint liquidators handling the matter of Absolute Electrical Technology have appointed WH Auctioneers Cape to auction an industrial property belonging to the company.
The property - which comprises a 14.8ha site with about 32 buildings - is situated in George Industria, in the heart of the Garden Route, and offers close access to the N2, the airport and the local central business district, according to WH Auctioneers’ Martin Dibowitz.
The gross lettable area at present is 32000m², he says.
“About 75% of the property is currently let, with a mix of tenants including manufacturing concerns, warehousing and refrigeration companies, distribution companies, small repair shops and various companies utilising the existing space.”
Access to the property is off Nelson Mandela Boulevard, with three separate access entrances.
Dibowitz says applications are in place for the property to be subdivided into seven separate erven.
“There is also a large amount of unutilised land available for development on the site,” he says. “Another benefit is that there is an 8MVA power supply to the property.”
In Dibowitz’s view, the auction of the property offers “an excellent opportunity to invest in the area by acquiring an asset that is already generating an income and offers massive upside potential".
The auction will be held on site at noon on October 17.
For more details and a detailed buyers’ pack, call Martin Dibowitz on 0832641646 or Daniel Pelkowitz on 0723607510 or see www.whauctions.com