In a funny twist of fate one of the better proposed development deals of the year has just come to the market- In typical South African fashion: right at the very end of the year.

There are several interesting points with regard to this site. Salient details include:

Location: Paarden Eiland
Site Area: Close to 9,000 sqmExisting GLA.    1,700 aprox sqm (Buildings require some work)
Bulk: Unlimited
Site Coverage: 100%
Zoning: General Industrial
Other details: Frontage onto 3 different streets thus ensuring any prospective purchaser a myriad of different development options.

The vendor’s in question are a multi national firm and have intimated that they are looking to sell the site by no later than January the 29^th 2010 and they are hoping to achieve in the region of R20 million, but all offers will be considered. When one considers that current asking rentals in the area are being achieved, for the most part R45/sqm for new industrial space it begins to look rather appealing. The development options could suite a small industrial park, a large single user (with over 5000 sqm GLA) or possibly a site just for storage on the land which is so close to the Harbour.

I have been informed by our leasing team that this area is still widely regarded as one of the most attractive industrial areas in the Western Cape if not the whole country. There are several reasons as to why this is the case. The area is uniquely situated between several different and important Transportation routes and is also in very close proximity to the Harbor. The Public transport system supports this site well with the BRT and train station very close by.

It is a very rare occurrence to see a site in this area which hasn’t been completely developed already.  In the world of property, terms such as “value for money” and “once in a lifetime opportunity” are often bounded around by overzealous agents and vendors alike, this I feel however really is one of those rare occasions whereby the aforementioned terms really can be used along with “Location Location Location”.

For any additional information or viewing requests please feel free to contact Gareth Jones on 082 778 7582

For more information or advice on buying, selling or letting commercial property in South Africa Contact SOKOLIC PROPERTY GROUP on 021 551 6938 (national call centre) or visit our Contact Page here to view individual brokers’ contact details.