Fully describe this property and its income earning activities.
The business comprises property of 2, 9 hectares of property with 8 light industrial rentable income earning improvement units on.
How long has the current owner had the business
The current owner of the business has had the business since 2010.
Fully describe the businesses activities
The business comprises 2, 9 hectares of land close to Nelspruit with 8 light industrial units on. There are 4000 square meters with light industrial space under roof. There are 6 of the 8 light industrial units which are currently occupied with tenants who have written contractual leases respectively between 1 and 2 years. The owners minimum lease agreements are for 2 years. The property runs off Eskom power and has borehole water continuously on standby with 30, 000 liters. There is 3 phase electricity available on most of the units
What zoning is the property
The property is zoned Agricultural with business rights. The monthly rates currently are R500,00 pm. The power is supplied by Eskom and the tenants pay for their own electricity with pay as you go electricity which they buy from the owner of the property who purchases it from Eskom. There is 1000kva transformer on site. Besides the improvements on the property there is 1000 sqm which is undeveloped and can be developed on. There are plans for the property .There is on file an aerial photograph available for perusal by a qualified buyer.
Overview of the business.
The business comprises 2, 9 hectares of prime property bordering a short 3, 5 from Nelspruit. The prospect for the future is that Nelspruit will develop towards the businesses property which will definitely add additional value to the property. The business is capable of developing additional rentable units which too will generate additional income. The current rental is based on the fact that there are still 2 unities which are currently not being occupied. The renting of these 2 units will generate additional income; the units are very user friendly in terms of access to Nelspruit and the surrounding geographical area. The reason the units are more attractive to rent is that the asking rentals are more affordable for entrepreneurs in the area in which the business is located. The rental expectation is around 23-28 per sq. There is still vacant land on which to develop new units. The property has 3 phase power on site which is enticing and which once developed will generate more income.
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Annual Turnover Amount between R 500 thousand and R 6 million