PROPERTY: Ikon Property Group Brokers R95 Million Lease with Multinational in Montague Park in Cape Town
Recent Western Cape Business News
One of South Africa’s largest private forwarding and clearing agents, Berry and Donaldson, has added its name to the list of major national and international companies which have taken up space in the strategically well situated industrial development, Montague Park in Montague Gardens, Milnerton in greater Cape Town.
The value of the 10-year lease, which was concluded through Jerri Mperdempes, senior commercial property broker of Ikon Property Group, is R95 million. The lease is for a new-built warehouse facility of 9 000sqm which is being specifically constructed to cater for the requirements of Berry and Donaldson, who take occupation in October (2016).
Says Mperdempes, who brokered the transaction on behalf of Improvon, which specialises in high-end industrial property developments for multinationals: “Significant projects by Improvon include the N1 Business Park in Gauteng and the 62 hectare, mixed-use industrial development, Montague Park in Cape Town. A further project being developed by Improvon is the upmarket industrial park, Gosforth Business Park in Gauteng, which will form the start of a sustainable ‘green’ precinct. They are arguably the best in this business, identifying and acquiring prime land and developing high-specification projects which cater for a market demand for such products at competitive rentals.”
Other tenants in Montague Park include Super Group, which has a 15 000sqm distribution facility and Takealot, with 35 000sqm. Mperdempes says Montague Park is considered the best industrial precinct in Cape Town, with nothing comparing to the standard set, and with several other multinationals leasing space here. “It provides excellent access on the N7, with Montague Gardens a major congestion point especially for logistics companies moving a large amount of vehicles.
“Berry and Donaldson are specialists in import and export, with branches in Cape Town, Johannesburg and Durban and Hong Kong,” he says.
“There are three sites of similar size to Berry and Donaldson’s facility currently available for development for prospective tenants and four already-built facilities available to lease in the 4 000sqm mark. Rentals are very competitive in comparison with other properties in the area and Improvon are always willing to negotiate a deal that suits tenants.”
Says Elton Holland, director of Ikon Property Group: “Situated in a fast growing and vibrant hub in Milnerton which provides an ideal source for employees and customers, Montague Gardens is on the northern border of Cape Town’s premier industrial node and is a well established and sought after mixed-use location.
“Within a 10-15km radius of Cape Town city centre, its harbour and international airport, the Park is flanked by Plattekloof Road in the north, Koeberg Road in the west and the N7 highway to the east. Further enhancing access are three separate intersections which facilitate traffic flow into and out of the Park, with extra lanes in Plattekloof and Koeberg Roads which also aid the flow of traffic.”
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