PROPERTY: Milnerton Attracts Industrial Users
Recent Western Cape Business News
Industrial areas in accessible locations such as Cape Town’s Milnerton area continue to attract industrial users seeking to lease premises, reports JHI Properties. A sizeable lease for 3260sqm of industrial warehousing space in Killarney Gardens, Milnerton has been concluded by JHI leasing and sales broker, Martin Botha, at a total rental value of R7 million.
Says Botha: “With a five-year lease period this transaction is on behalf of a local company which distributes products nationally and requires a secure, accessible location. Being only about 14km from Cape Town’s city centre, this popular industrial area has good security and is within easy reach of key routes such as the N2, M5 and N7.
“The tenant is relocating from nearby Montague Gardens, where they occupied various smaller units, while these spacious premises in Killarney Avenue, Killarney Gardens, enable them to accommodate all their operations under one roof, thereby increasing operation efficiencies.”
In addition to concluding the above lease, Botha says the adjacent unit of similar size and rental is currently available.
Commenting on the market in general, he says enquiries for industrial space have picked up this year (2011). “While very positive for South Africa’s global exposure, the Soccer World Cup event last year resulted in fewer enquiries. There is greater interest this year from both local and international businesses. I am finding with the new China Town at Sable Square in Milnerton – in addition to the existing China Town in Ottery – and with a second facility being built at The Paddocks shopping centre, also in the Milnerton area, there seems to be growing interest from the Chinese business sector,” he says.
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