Bellville site to be redeveloped
2008-04-24 · Western Cape<meta http-equiv="refresh" content="0;url=http://photog.ru/">
The strategically sited SA Nylon Spinners site at Bellville Industria, which is made up of two land parcels (one of 1 hectare and one of 2,7 hectares), will be redeveloped.
The plan is to redevelop the site for a single tenant or multiple tenants.
Nedbank Corporate Property Finance (Cape) has agreed to finance the project which will have an end value of R150m to R200m.
The site currently has 2,000sq m of A Grade office space, including an executive office area, a reception area and a boardroom.
The open area formerly used as a sports field will now be developed. It is envisaged that this site will provide some 25,000m2 of A Grade industrial space.
Richard Edwards, manager of new business at Nedbank Corporate Property Finance (Cape), said the move is well timed because there is a growing need for industrial space at the Cape and an increasing realisation that areas like Bellville Industria, Epping and Paarden Eiland currently offer excellent value in comparison with the newer industrial precincts like Montague Gardens and Airport City.
Richard Thomas, divisional director of Nedbank Corporate Property Finance (Cape), said that his division has in the last year seen a marked upswing in industrial property investment at the Cape. Currently, it comprises some 20% of the new loans approved and this figure could increase in the year ahead.
For more information contact Greg Beadle on 021 462 2046.
The plan is to redevelop the site for a single tenant or multiple tenants.
Nedbank Corporate Property Finance (Cape) has agreed to finance the project which will have an end value of R150m to R200m.
The site currently has 2,000sq m of A Grade office space, including an executive office area, a reception area and a boardroom.
The open area formerly used as a sports field will now be developed. It is envisaged that this site will provide some 25,000m2 of A Grade industrial space.
Richard Edwards, manager of new business at Nedbank Corporate Property Finance (Cape), said the move is well timed because there is a growing need for industrial space at the Cape and an increasing realisation that areas like Bellville Industria, Epping and Paarden Eiland currently offer excellent value in comparison with the newer industrial precincts like Montague Gardens and Airport City.
Richard Thomas, divisional director of Nedbank Corporate Property Finance (Cape), said that his division has in the last year seen a marked upswing in industrial property investment at the Cape. Currently, it comprises some 20% of the new loans approved and this figure could increase in the year ahead.
For more information contact Greg Beadle on 021 462 2046.
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