PROPERTY: Mega Park The New Landmark
Recent Western Cape Business News
SA Nylon Spinners (SANS), once one of the biggest industrial operations in the Western Cape, is as we all know now something of the past. But the landmark property in Bellville is getting a major make-over as an industrial park which is already showing promising results for the developers, the Sujean Property Investments group of companies.
Sujean managing director Sean McCarthy tells Cape Business News the property of 120 000 sq m was acquired in November last year for R62.7 million from AECI, the then owner of SANS. Another R60 million was earmarked for redevelopment into arguably the biggest industrial park – with a lettable area of 65 000 sq m – in the Western Cape.
Appropriately branded as ‘Mega Park’, unit sizes vary from 500 sq m to up to 20 000 sq m and feature eave heights of 4.5 to 15 metres.
And despite a lack-lustre property market generally, letting so far has been remarkably good, with already 45% of the total area spoken for.
McCarthy says letting has been at a higher rate than originally planned for and the project is now on track to be fully let towards the end of next year.
With space letting at around R25 a square metre, interest is keen, reports McCarthy. Redevelopment is tenant driven and interest so far originates from a wide spectrum of industry, ranging from plastic pellet manufacturers, light to heavy industry, printing and warehousing operations.
One of the major attractions of Mega Park is its electricity feed of 16 000 KVA. “This is something today that money almost cannot buy”, McCarthy says, referring to the current electrical supply position, with which all businessmen are familiar with.
With this kind of feed the most power-demanding tenants will be happy, whether they be manufacturing, warehousing or distribution.
Another attraction, McCarthy points out, is the site’s location. As with the general trend in the greater Cape Town metropole the growth movement of business, as with residential, is North, mainly due to transport considerations.
Other features of Mega Park include a circular access road for inter-link trucks and 24 hour security and access control.
Although SANS is no more, it seems there will be much economic activity at the site in years to come.
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