PROPERTY: Mega Park Going Fast
Recent Western Cape Business News
AT a time when the property market generally has been far from robust, the Sujean Property Development Group has let some 45 000sq m of warehousing and factory space and is presently negotiating leases on another 8 000sq m at Mega Park in Bellville South, the former premises of SA Nylon Spinners. This is well over half the space they had available at this high profile site at the beginning of the year.
With January/February upon us, normally the busiest time of the year for letting of commercial and industrial property, Sujean managing director Sean McCarthy is confident the remaining space will soon be snapped up.
The group bought Mega Park from AECI at the end of 2009, and it was not until February last year that they began marketing it as a rental project.
“In a fairly flat market,” says McCarthy, “there is always an element of risk, but we believed there was a market for what Mega Park has to offer, and so it has proved.”
The group is offering the remaining warehouse space at very affordable rentals, best suited to customers seeking from 550sq m to 10 000sq m, with eve heights ranging from 5.5m to 14m high in the 9 200sq m warehouse which also includes a loading area with dock levellers and a sprinkler system. The park also boasts a supply a 16 Mva power supply which makes this site ideal for large power users.
Sujean has an accommodating approach, and are happy to customize spaces to suit a customer’s particular requirements.
Indeed their willingness to do this, coupled with the speed of handover - as little as a month in some cases - has been an important factor in their success.
The whole park, McCarthy emphasises, is ideally suited to large vehicles, with good interlink access and loading areas. Security is excellent, with some pretty formidable electric fencing surrounding the entire area, coupled with 24 hour access control.
The Sujean Property Development Group has a large property portfolio in the Cape Peninsula, including well positioned commercial and industrial properties, and they regularly undertake development projects.
“We develop and re-develop property, and are long-term investors in property, and we are bullish about the future of the property market in the Western Cape,” McCarthy says.
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