Industrial space for Cape Town

A NEW R123m industrial property known as Racecourse Gardens is being developed by Old Mutual Investment Group Property Investments to meet continuing demand for large industrial space in Cape Town.

The development, on Racecourse Road in Milnerton and adjacent to Trade Centre, will consist of 24230m² of warehousing space with offices.

Old Mutual says this follows the rapid take-up of space in a recently completed R83m expansion of Phumelela Park, an Old Mutual industrial park in nearby Montague Gardens.

It says Racecourse Gardens will have quick access to major distribution routes such as the N1 and N7 and be close to Cape Town’s central business district.

Marco Bonafede, a letting consultant for Old Mutual Investment Group, says there will be four units, which can be split to meet tenant requirements. They are expected to be ready at the end of the year.

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