The scheme is generally considered one of the top ranking industrial estates in the Western Cape.
Jonty De la Porte, a director of De La Porte Property Management Services, which manages some 13 schemes in the area, totalling 450 units, said that Prime Park has been popular since its inception in 2005, one of the main reasons being that it is only five minutes from Canal Walk and the four and five star Century City offices. It is therefore, he said, part of a lively Cape business, residential and entertainment hub – a factor which attracts many tenants. Also making Prime Park popular, he said, is its security: as it has a perimeter fence with a single entrance manned 24/7, CCTV and patrol guards also operating round the clock. Aesthetically, added de la Porte, it is definitely one of the more pleasing schemes in the Cape and superior to the vast majority of Cape industrial parks.
John Weaver, a director of Inframax Investments (Pty) Ltd, which developed 52 units in two schemes within the Park, and which has retained 23 for renting out, added that another factor making Prime Park popular is its quick access to the N1, N2, N7, M5 and Table Bay Harbour.
De la Porte added that the majority of enquiries for space come from would be tenants usually prepared to pay rentals between R35 and R45 per m². However, he said, certain units are still available for sale.
In the last three months, the Cape commercial and industrial sector has, he said, “come out of hibernation”. He predicts the values of well sited upmarket parks of this kind will escalate at between 8 and 10% this year, especially if, as is the case at Prime Park Montague Gardens, there is no further land for development in the area.
Publisher: eProp
Source: DPM/Inframax

