USD 700,000
ZWL 56,700,000
Norton
Commercial & Industrial Land
Investment options for the Norton Galloway land and buildings
The property is 38 000 m2 in extent, and has improvements in the form of an office block, workshops and warehousing space, which is brick and asbestos roofing, and a staff canteen of brick and asbestos roofing. There is a storage shed build of structural steel and open sides, measuring approximately 88 x 16 m, which could be converted to any desired use by closing off all or part of the sides. The property has two underground fuel tanks for diesel and petrol, with capacity of 8 000 l, and 7 000 l respectively.
The main building housing the offices, warehousing and workshops space is about 1200 square meters ground floor space, and about 300 square meters second floor space, and is of brick under asbestos.
The property has two loading and offloading ramps, and a rail siding just outside the fence boundary. The property is fenced and gated, and the whole surface is fully compacted, as it was previously used as a regional headquarters holding heavy earth moving equipment.
The property has title deeds.
LOCATION
The property is located in Galloway, Norton, in the industrial/commercial area.
INVESTMENTS OPTIONS
Currently, part of the property is being leased by a plastic utensils manufacturer, but is using approximately 10 % of the space. The property could be put to a number of alternative uses to ensure a good return on asset, either in the present state, or with some improvements.
TOBACCO PROCESSING
The facility could be used for tobacco processing before the tobacco is exported since it is located within a tobacco farming hum, Mashonaland West province. Besides tobacco processing, some of the space could be converted to a tobacco auction floor, or contract tobacco receiving floors prior to processing, packaging and export.
EXPORT VEGETABLES, FLOWERS PACKSHED
The facilities lend themselves to easy adaptation to packing sheds that can be used for the sorting and packaging of flowers or vegetables for export. These could be received from contracted farms around the area and processed.
WAREHOUSING/PACKAGING
Warehousing and packaging facilities could be developed at this location for foodstuffs, beverages or even agricultural production materials such as fertilizers. There have been previous approaches by potential investors who wanted to package agricultural produce such as dried fish, rice and beans for storage and distribution to the markets. The site could be developed as a grains milling factory.
MANUFACTURING
The facility is suitable for food-stuffs manufacturing or processing, or can be used for industrial manufacturing. The current infrastructure can be used with minor improvements. Alternatively, factory shells can be put up for leasing or use by new owner. The property has been developed in such a manner that the current buildings are in one corner, leaving vacant space which improves options for further developments.
TRANSIT LOADING FACILITY
The property could be used for truck and rail loading of heavy materials such as chrome and other ores, for rail transportation. The area could be subdivided so that a number of exporters could stock pile mineral produce for export.
SCHOOL/COLLEGE DEVELOPMENT
Taking account of how the land has been developed, there is an opportunity for the building of a school or college, using the open space which is about 90 % of the land. The current improvements are in on corner of the land, leaving the open space with a lot of development options. The open space could be developed into multi-story educational facilities, and could accommodate upwards of 2 000 students.
SHOPPING MALL
The empty space could be used to develop a shopping mall as there is no such facility in Norton. This mall could capture clients from the whole of Norton and the surrounding farming community, as well as some Harare suburbs closer to Norton.
RECOMMENDATION
Given the outlook of the possible buyers, a number of development options are possible to guarantee a suitable return on asset. With the anticipated positive outturn on the economy in the medium term, this property could constitute a strategic anchor in an investor’s portfolio. Full title deeds.$ 700K Negotiable
For Sale
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