30 and 32 Shropshire Street, Paarden Eiland sold

Nathan Brajtman of Diamond Properties sold 30 and 32 Shropshire Street, Paarden Eiland to a syndication of private investors. The building comprises 1476m2 of building area. The purchase price was R2,600,000.00 which equates to a 10% return. Brajtman said the rentals were under market and there was an upside for the purchasers on a reversion of the rentals. Paarden Eiland is one of the most sought after industrial locations in Cape Town with a close to zero vacancy factor. Properties are very scarce to obtain for sale and buyers are now paying premiums for properties in this prime industrial location.