PROPERTY: Strong Demand and Competitive Pricing Sees Almost 50% Of Land Sold in Firgrove Industrial Estate
Recent Western Cape Business News
ALMOST 50 percent of the total of 27ha of serviced industrial land has now sold in Firgrove Industrial Estate, a prime-located hub just off the N2 in the Western Cape and only 15 minutes from Cape Town International Airport.
Says Dudley Annenberg, MD of developers, Annenberg Property Group: “In the past six months we have sold a total of 7.5 hectares comprising 18 sites for R65 million in this strategically positioned site, which is the only development in the Western Cape capable of accommodating big box warehousing and large scale manufacturing facilities at a low entry cost – and within a 24-hour security park development.
“During this period we’ve seen a surge of enquiries for land in this security estate with a number of sales pending. Based on the current high interest and level of enquiries we anticipate the entire development will be sold out within the next 12 months. We have sufficient land that can even be consolidated to develop a 30 000sqm footprint or a variety of smaller permutations to suit the requirements of a buyer or tenant.
“We also offer a full turnkey development service to buyers of land. Most companies simply cannot take the time out to deal with managing the development of their new facility and so we take this hassle off their hands by providing a design and construction offering which has resulted in three such developments commencing or about to commence representing a total capital investment of R94 million.”
With prominent exposure onto Macassar Road, Firgrove Industrial Estate is situated two minutes from the N2 at the Firgrove / Macassar off-ramp, adjacent to Denel and with commuter rail access close by at Firgrove station. It is 30 minutes to Cape Town CBD and harbour and easily accessible to the N1 and R300, while Somerset West is about eight minutes’ drive and Stellenbosch only 20 minutes away.
And, as Annenberg points out, with the rapid expansion of Sitari Village across the N2, Firgrove is ideally situated for residents who want to locate their business close to home.
Sites range in size from 1900sqm upwards starting at R850 per square metre for 3000sqm upwards, to R1050 per square metre for 1900sqm, excluding VAT. With ample power supplied to the estate, it is fully enclosed and secured by fencing with a single entry point and 24/7 manned security, including camera surveillance.
Says Annenberg: “Firgrove offers good value for money with excellent upside potential. Sites are competitively priced as serviced industrial land is in short supply in the Western Cape, with land values between R1500 and R2000 per square metre being achieved in areas closer to the city and in close proximity to the N1.”
Annenberg Property Group has employed one security company to patrol the entire estate, thereby reducing the need for individual security guards for each property. “This cost saving will benefit all owners in the estate,” says Annenberg.
“We have also already built a complex comprising six mini-factories which have all been sold on a sectional title basis. As a result of this successful project we have sold further sites to developers who intend to offer more units for sale and to let that will come on stream mid 2018.
“The entire complex is governed by a progressive and modern design guide that sets the standard of finishes which brings uniformity without any added cost. In addition, landscaping will play an important role in setting a high benchmark with all pavement reserves landscaped with water-wise plants which will be maintained by the Propert Owners Association staff members.”
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