Announcing this week, Nic Kontopirakis, Director Marketing and Sales of the group said that this factor had made “all the difference” to potential clients’ reactions to JPKG projects now being built at The Grove Business Estate at Somerset West.
 
Richard Thomas, Divisional Director of Nedbank Corporate Property Finance, which has financed the lion’s share of all JKPG development for over two decades, said that the example set by John Konti would have to be followed by others if industrial and commercial development is not to be significantly slowed up.
 
“It is now quite clear,” said Thomas “that this development is attractive for a variety of reasons these include businesses seeking expansion, more sophisticated industrial and office space, concerns relating to existing premises and the impact of power outages as well as a need for greater security.”
 
The Grove Business Estate, he said, is in the fortunate position of having Eskom power guaranteed for all its phases and, now, of being able to buck the power outages.  The initial generator installation will cost R2 million and will produce 2150kVA.
 
The John Konti Property Group has to date completed 41 000m² at The Olive Grove Industrial Estate, all of it light industrial space, in avant garde buildings – and is all now sold or leased.
 
“The designs are strikingly modern, making full use of steel for the frameworks and full length glass for the walling,” said Richard Edwards, Nedbank Corporate Property’s Finance New Business Manager. 
 
The Grove Business Estate is one of two major developments planned by the John Konti Property Group for delivery in the next two years.  It will bring to the site 17 500m² of light industrial space, much of it in double volume buildings and 7 500m² of A Grade office space in three storey blocks.  Handovers are expected to begin in July 2008 to March 2009.
 
Nic Kontopirakis said that the latest agreement signed for industrial space in The Olive Grove Industrial Estate was at R45 per m² and the offices should be able to command a price of R85 to R95 per m², net of operating expenses.
 
The plus factors in favour of the project, he said, are that apart from having a guaranteed power supply and tight “double” security (occupants and visitors will have to pass through two sets of manned security gates), it fronts onto the N2 freeway – and is the only major industrial/office precinct in the Helderberg Basin.  The position gives clients who need a higher profile exposure to one of the busiest traffic areas in the Western Cape.
 
Edwards said that Nedbank’s relationship with the Konti group spans more than 20 years during which time the group has always been one of the frontrunners in industrial property development.
 
JKPG plans currently in the pipeline include more expansion at The Grove Business Estate, approximately 17 000m² of offices at the Sanctuary Office Park in Somerset West and a further 18 800m² office space at Capricorn Park.
Publisher: eProp
Source: Nedbank