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Jul 03, 2008:
All of the 77 stands for light industries in Brackenfell in Cape Town's northern suburbs were recently sold within 24 hours at a total price of R300m.
These stands cover an area of 10 hectares and forms part of a 25 hectare security development, Brackengate Business Park, with an estimated developed market value of more than R1bn.
Erwin Rode, property valuer and economist from Rode & Associates, attributes the exceptional demand to a limited supply of well-positioned land with comprehensive services, including electricity.
"Although rising interest rates had a negative impact on the residential market, the industrial and office property markets are less sensitive to interest rates."
"The expected economic growth of 2% to 3% for SA will support the demand for good quality industrial and office space over the next couple of years," he says.
Fanie Botha, who co-developed the park, says the remaining 14 stands of one hectare and more are available for larger developments and some of the bigger stands are earmarked for collective business ventures between his company and other firms.
The infrastructure for the park will be completed by the end of the year.
The premises are on the eastern side of the R300 highway, halfway between the Ou Paarl Road and Bottelary Drive. – Sake24
