Pick N Pay Food Distribution Centre to fall under the gavel

Posted On Thursday, 04 August 2011 02:00 Published by eProp Commercial Property News
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A Pick N Pay tenanted food distribution centre in Port Elizabeth, will be brought to auction by Auction Alliance during this month’s Commercial Multiple auction to be held on August 25 in Johannesburg.

Property-Housing-ResidentialThe property is situated on the corner of Grahamstown and Martin Roads, in the Showgrounds Industrial Complex, in the established industrial node of North End.

The property’s prominent location on the northern edge of the North End industrial area, places it within close proximity to the Port Elizabeth Harbour, and links it to major arterial routes including the N2 Highway.

The property is closely situated to the Nelson Mandela Bay Stadium and the CBD, and enjoys easy access to a number of amenities and major properties situated in the CBD, as well as in the adjacent industrial areas of Sidwell, Korsten, Neave Township and Deal Party. 

The property extends over a GLA of ±7,054m², and offers an administration component, double volume warehouse space with cold rooms and a workshop and washbay area. The 15 year lease with Pick N Pay expires on 28 February 2015, and has two further renewal periods in place.

The entire site is fenced with a 2.4m security wall, and has 24 hour access controlled security. The property features ample parking.

The double storey administration component includes offices, ablution facilities, a board room, staff cafeteria and store rooms with ground floor access to the warehouse area.

The warehouse component comprises a double volume steel industrial structure with insulation cladding. The area includes warehouse and storage space, and there 14 roller shutter doors on the south side and 12 on the north side. The warehouse component offers direct access to the heavy vehicle loading bays.

The workshop and washbay area comprises detached double volume building, which offers workshop and washbay facilities to heavy vehicles.

Comments Mike Bosch of Auction Alliance, “The property’s prominent location in a well established industrial node with excellent infrastructure, together with its long term lease with Pick N Pay, makes it a highly sought after investment opportunity.

In addition, expansion and development opportunities offered by the property, further enhances its appeal as a highly lucrative investment opportunity”.

The auction takes place at 12pm at the Hilton Hotel, 138 Rivonia Road, Sandton.

Last modified on Wednesday, 11 June 2014 08:47

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