86 George Blake Avenue, Plankenberg , Stellenbosch
Oryx Properties Limited, a Namibian-listed property fund, acquired a 9 200m2 industrial and retail warehouse facility in Stellenbosch in early 2012. This investment was sourced, negotiated and concluded by Sequelprops on behalf of Oryx and the property is managed by Sequelprops in terms of the management agreement that is in place between the two companies.
The location of this property, in close proximity to the centre of Stellenbosch and immediately accessible to the arterial roads leading to Paarl, Somerset West and Cape Town, serves the needs of the tenants and their customers well. The major tenant occupies 97% of the property, comprising a processing and packaging plant for a niched operator in the beverage industry.
Oryx took transfer of the property in April 2012, at an acquisition cost of R 65.5 million. The initial property yield was 9.4%, with the rentals escalating at an average of 8% per annum.