Property development in the Western Cape has to keep up with fierce demand as the City is growing at an average 30% per annum according to the 2011 census. The industrial property sector is seeing some large scale developments all over Cape Town and specifically along the R300 highway.
Currently being developed along this corridor is a new distribution centre for Shoprite, bordering on Brackengate Business Park.
Redefine Properties would partner with local property developer Van der Merwe Venter (VDMV) to unlock the business opportunity identified within the Brackengate node. The acquisition yields 425,000m² of developable bulk. “We will start rolling the bulk infrastructure within the coming months and are entertaining enquiries for big box retail and logistics operations,” Redefine national asset manager of industrial sites Johann Nell said.
In 2013 Growthpoint Properties acquired a site near the corner of Robert Sobukwe Road and Peter Barlow Street, offering easy access to the R300 main arterial which connects to both the N1 and N2 highways. “This excellent site offers all the benefits of a prime location in a well-established industrial node – substantial electricity, great road access, public transport and generous yard space,” says Growthpoint Properties Development Manager Riaan Munnik. “It is an exceptional opportunity to grow our industrial footprint in the region with a unique property that can be customised to meet the needs of a manufacturer or big box warehousing.”
Adjacent tothe Growthpoint development is Bellville Industrial Park. This new development being marketed by Assetbridge Real Estate comprises 14 plots and is currently one of limited industrial developments where land is for sale to the end user or investor. At the price of R 1,000 – R 1,295 per square meter, the list of potential owners and future investors is relatively short. Infrastructure completion for the development is aimed at July 2017. Access onto the R300 will now be easier and quicker, and it will also be easier to travel from Stellenbosch, the N1, N2 and the airport. The R60 million upgrade forms part of projects that will cost the city R750 million over the next five years.