New R850m Industrial Development for Germiston
Category Property News
Atterbury will develop a R850 million industrial and business park on the prime site it has acquired in Gosforth Park, Germiston, in Ekurhuleni.
Bezuidenhout says Atterbury has designed the ready-to-develop park to provide 103 000sqm of modern business space for blue chip light industrial users requiring big box logistics warehouses as well as showrooms and offices.
This is according to Coenie Bezuidenhout of Atterbury Property Developments, who says Atterbury has designed the ready-to-develop park to provide 103 000sqm of modern business space for blue chip light industrial users requiring big box logistics warehouses as well as showrooms and offices.
Located at the intersection of the N3 highway and Rand Airport Road, right on the Elandsfontein interchange, the highly visible site is on the preferred side of the busy Gillooly’s interchange for freight coming into the province from Durban and other port cities.
Bezuidenhout says Gosforth Park is an area that Atterbury knows well. A decade ago they had purchased the former Gosforth Park horse racing track turned motorsport raceway from Wesbank.
The property was then redeveloped into Raceway Industrial Park, the first major commercial property development in the node - and a trigger for exponential surrounding property development. Raceway Industrial Park was sold to Pangbourne in 2009.
“In addition to previous development success in the Gosforth Park node, this site was chosen as part of our expanding portfolio of developments in Johannesburg, as the node is set to receive a new injection of investment,” says Bezuidenhout.
Also, he says the site is the best positioned - and last - major site for development in the immediate area.
“It offers sweeping highway frontage with excellent visibility and has superb in-out access right on a major highway intersection,” says Bezuidenhout.
Wouter de Vos from Atterbury says industrial property remains attractive and represents a defensive property play during a cycle of uncertainty.
“It commands longer leases relative to other commercial property sectors. In a rising interest rate environment, it is an asset class that can match debt with income profiles,” says De Vos.
“For Atterbury, it also lowers risk by strengthening the sectoral diversification of our assets. We’re particularly pleased to secure such a sought-after site in a major established and growing industrial node in Gauteng - SA’s economic hub.”
De Vos says the Gosforth Park development is at a strategic transport confluence which links Gauteng to the rest of the country, the region and the world by road, rail and air. As well as its excellent access from the N3 highway, it is also easily accessible from the N12, N17 and even the M2 highways.
It has a dominant position at the gateway to Gosforth Park and surrounding business areas. The development is also near to the City Deep inland port.
“This development is positioned to be the first choice for business, especially those involved in logistics - from cargo handling to courier services, warehousing and freight,” says De Vos.
Added to its excellent accessibility, he says the site offers great visibility and brand exposure.
The development will be undertaken by Atterbury Property Developments, with construction to begin this year. The development is set for completion over the next three years.
Bezuidenhout says the development is already zoned and serviced, and the business park is ready to develop as a full site or offer industrial facilities up to 70 000sqm and starting from 10 000sqm.
“To support its tenants, Gosforth Park will be secured with high-spec infrastructure, as well as a comprehensive framework of services and other quality features,” says Bezuidenhout.
“With all this, it is not surprising that Atterbury has received interest for space at the prime Gosforth Park business address - even before it officially launched the development.”
Credit: Property24
***For more information on this development and current vacancies call Warehouse Finder on 0860 009 531 to speak to one of our specialist brokers
Source: Corporate Real Estate Africa
Author: Property24
