Pam Golding Commercial (PGC), the commercial company within the Pam Golding Property group, is poised to make significant inroads into the Garden Route - and Eastern Cape regions, says PGC chief executive, Peter Golding, commenting on the expansion of the commercial operation in the Garden Route, with a new office launched in George.
"From our centrally located new offices in George, headed up by leasing and sales consultant Alex Barnard, we are now able to provide a full range of services in the areas from Mossel Bay in the south right through to Knysna, with a view to expanding these through to Port Elizabeth and other areas of the Eastern Cape in the near future.
"We have identified the Garden Route - and Eastern Cape regions - as strategic growth areas, enjoying increased investment and a growing tourism market. The Garden Route is an area which enjoys global recognition, with its world-renowned golf courses, leisure establishments and excellent infrastructure. Ideally centrally situated in the region, and with its own international airport, George is already a key centre experiencing significant growth, and is attracting investors of high net worth who are now turning towards purchasing commercial property - whether retail, office or industrial accommodation. In addition, the nearby area of Mossel Bay has been growing at a tremendous rate following the development of the PetroSA refinery and the building boom which has taken place in recent years in the golf and leisure sector - in areas such as Diaz Beach and Dana Bay. Furthermore, sought after Knysna has for some time been established as an important commercial hub," says Golding.
Business development manager for PGC, Geoff Stroebel, reiterates that the Garden Route region is a key growth node, with the commercial property market now following the upward trend of the residential property market. "The residential property sector has taken off in recent years, with residential property values experiencing a dramatic surge in value. Now the commercial property market is following suit, with property investors clamouring to secure a foothold in the market and access to lucrative returns, particularly while this sector of the market is still coming off a relatively low base. This is definitely the right time for investors and owner/occupiers to consider purchasing commercial property. In this regard we are currently marketing a number of a commercial properties ranging in price from R500 000 to R10 million, and have numerous properties currently available to lease."
Stroebel says in George itself, there is not much land available for development, resulting in a positive redevelopment of office parks and buildings. "Quality industrial property for development is highly sought after to cater for a high demand from a broad cross-section of the market ranging from new entrepreneurs moving into the area - attracted by its appealing lifestyle and seeking to lease or purchase commercial property, such as small to medium-sized sectional title units - through to major chains looking to regionalise their distribution centres and seeking large industrial warehouse premises. With easy access to the N2 and airport, Pacaltsdorp, just outside the George CBD, is rapidly becoming a prime industrial area."
He says activity around the fully tenanted Garden Route Mall is also picking up, with retail rates forming a benchmark for other malls in the region, including the Outeniqua Mall in Mossel Bay. Currently, average rental rates in George range from R25 to R30 per square metre for industrial space, and R65-R70 for retail space - with rates at the Garden Route Mall pegged at approximately R150 per square metre. In central George, AAA grade office space is in the region of R80 per square metre.
Pam Golding Commercial's offices are located at 4 Davidson Road.
