Spearhead Property Holdings will this month be going ahead with the construction of Phase II of its avante garde Spearhead Business Park in Montague Gardens at a cost of R16 million.

This will bring the JSE property loan stock company's total investment at this park to R35 million so far.

Four phases are planned. Phase II will put a further 7 000m2 onto the popular Montague Gardens market and will complement the 8 500m2 of Phase I which is now almost fully let.

Here Caltex is about to take over the prominent corner site with a 12-pump station and large truck wash bay to provide services for the estimated 16 000 motor vehicles that pass this way each day.

Phase II should be finished in August, said Mike Flax, Chief Executive Officer of Spearhead Property Holdings.

"We set out to create a park that would immediately be recognisable as the best in the area - and I think that Dennis Fabian, Berman and Hackner Design has achieved this."

Parking space is generous, with four bays per 100m2 of covered area.

Flax added that security had been treated as a top priority and is enhanced by the use of TV surveillance cameras, electrified and alarmed perimeter fencing, and guarded entrance and exit points.

The business park has three different components: mixed-use facilities with high roller shutter doors capable of taking large trucks; a retail section, all of which fronts onto the adjacent roads; and offices, many of which have full glazing on all sides.

The mixed-use facilities, said Flax, have proved to be the big winners. He thinks this is because they are versatile enough to cater for any kind of operation, and provide office space on the mezzanine and ground floors.

"These days it is common to find hi-tech and similar businesses allocating up to 40% of their space to desk bound staff," he said.

Spearhead is now running an advertising campaign branding the new centre as "the sexiest business environment in Cape Town".

"Frankly, Cape Town needs this type of business park," said Flax. Tenants in the now almost full Phase I at Spearhead Business Park include Samsung, FNB, Galvenor Textiles, in addition to Caltex.

For further information please contact Mike Flax on 021 425 1000.