PROPERTY: Low Rental Lures Business To Somerset
Recent Western Cape Business News
Somerset West is underpinning its appeal as an industrial location with rentals for a new development pitched as much as 40% lower than for those in other established nodes in greater Cape Town.
South Africa’s largest listed property company, Growthpoint Properties Ltd, has announced gross rentals of R30/m² for units at the recently acquired The Grove Business Estate in Somerset West.
“That is a substantial discount on rentals for new developments in areas such as Epping, Montague Gardens, Paarden Eiland and Airport Industria,” says David Stoll, head of Growthpoint in the Western Cape.
“The R30/m² rate is available for a limited period and compares favourably to rentals of similar units in Somerset West and other nearby nodes. This favourable rental can assist businesses in relieving some of the financial pressure affecting them in the current economic downturn whilst enjoying the modern facilities on offer at The Grove. “
Stoll says Somerset West’s attractions, compared to traditional industrial areas, lie in its easy access to major routes, a pleasant and secure working environment, and the proximity of a major labour pool.
“The Grove is adjacent to the Somerset Mall Triangle, a precinct that has benefited from professional urban design and innovative buildings. Although the precinct has seen considerable growth in retail, commercial and industrial sectors, it does not suffer the congestion associated with established industrial areas.”
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