THE old Kodak property alongside the M5
highway is up for grabs - arguably one of the most desirable redevelopment
opportunities in Cape Town - sparking a wave of interest among developers
and investors alike, says Broll director Carl von During.
"This site scores full marks for location, accessibility and visibility. Its
position alongside the M5 - with 300 metres of frontage on one of the
busiest routes in Cape Town - gives it unparalleled exposure. Its proximity
to the N1 and N2 make it a property with huge potential," he adds.
The 2,5 ha site - with ample parking and excellent signage possibilities -
offers a variety of development opportunities including showrooms,
commercial trading and offices. Currently there is 3 000 sq m of warehousing
and, in a separate building, approximately 5 000sq m of office accommodation
on two levels. However, the site has a bulk of 29 000sq m offering potential
developers a host of options.
The complex offers 24-hour security and currently includes high-profile
tenants Eagle Lighting and Tupperware.
"Lower interest rates, coupled with a shortage of available development
opportunities are combining to create strong interest in this property.
Decentralised mixed-use developments are becoming increasingly popular in
the general area and this trend, together with unrestricted views of Table
Mountain, ensures this particular property has something extra special to
offer."
The M5 acts as an arterial link between the N1 and N2 highways and city
officials have logged traffic counts in excess of 75 000 vehicles per day
passing alongside the property.
According to Broll's in-house research department there has been a strong
shift to the re-development of older commercial and industrial properties.
While the buildings have often become functionally obsolete over time their
location and strong visibility make them ideal for conversion into modern
mixed-use developments offering up-to-date facilities in areas close to
traditional residential nodes.
"This property has not achieved its potential. But with the right proposal
this site can be transformed into one of the most exciting developments in
the area offering unique benefits for future tenants or owners," von During
says.
Broll is South Africa's largest empowered, multi-disciplinary property
services group with a national footprint encompassing all major centres.
Publisher: Cape Business News
Source: Cape Business News
Old Kodak site ready for developing.
Posted On Tuesday, 15 July 2003 02:00 Published by eProperty News
THE old Kodak property alongside the M5 highway is up for grabs - arguably one of the most desirable redevelopment opportunities in Cape Town - sparking a wave of interest among developers
and investors alike, says Broll director Carl von During.
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