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Aug 15, 2007:
All 10 units at a R15m industrial development at Racing Park, the industrial node opposite Killarney Gardens, have been sold prior to completion.
Each unit has six parking bays and a loading bay allocated to it. The units offer power skirtings, suspended ceilings, recessed lighting and carpet tiles.
"There should be no reason why an industrial environment has to be off-putting," said Dick Groeneweg of Propdev Trust, developer of the F1 Park development.
Groeneweg says the plot values in the area have doubled and, in some cases, trebled since their launch last year.
Construction of the second phase, for rental only, has commenced. This phase offers 390sq m units and should be completed by October this year. Units here can also be consolidated to allow for 1 600sq m spaces. Rentals are R32,50/sq m excluding VAT.
"Prodev has operated in decentralised nodes for the last ten years, finding more and more people wanting to work closer to the areas in which they live and foresee great demand carrying on into the future," said Groeneweg.
"In addition, we have found that there is an increase in demand from buyers in Gauteng, either investors or those planning to relocate their businesses to the Cape."
