The Cape industrial property market has improved significantly since the
beginning of the year, with a large take up of existing properties across
all areas. This has led to a shortage of existing space and along with the
predicted 4% interest decrease over the next six months, vacant land sales
and new developments are expected to flourish.
One of the few locations where vacant land is still available at reasonable
prices is Airport Industria. According to the International Air Transport
Association (IATA), Cape Town International Airport has been rated the best
international airport in the world of its size and now handles over 5
million passengers per annum. Furthermore, according to the Airports Company
of South Africa, the passenger volume is expected to be approximately 11
million by 2015.
Airport Industria is therefore expected to become one of the fastest growing
and most popular industrial nodes in the Western Cape in the near future.
Furthermore, it has well supported infrastructure and is ideally located
geographically with easy access to/from the N2, with travelling generally
against the traffic during peak hours," says Andy Beddow, a director at
Baker Street Property Company.
Beddow adds, "The popularity of Airport Industria bodes well for the newly
launched Airport City development bounded by Borcherds Quarry Road, Cape
Town International Airport and the N2 highway. The site has excellent
visibility and good access to the N2.
"Baker Street have been particularly active in this area, recently selling a
20,000 m2 site to Avis Car Rental, to be used as a new depot within Airport
City. Our company also packaged the Budget Rent-A-Car depot and the Imperial
Car Rental depot developments, both adjacent to Avis."
Storm Durr, the developer behind Airport City, says that to date over 30% of
the sites (totalling in excess of 96,000m2) have been sold in the first
phase. In addition another 33% of the sites are under option to purchase. He
commented that the sites appealed to courier and freight companies, some of
which include CDC Services and Globeflight. Caltex are developing a large
service station on the site as well.
Beddow continues, "There are various sites still for sale varying in size
from 1500m2 to 25,000m2. Prices range from R220,00m2 (VAT exclusive) for the
smaller sites. The properties are located in a secure fenced environment
with 24 hour security and vehicle access control.
"Investors are confident that Airport City is a rapidly growing development
within the Cape Town International Airport node and we have several
investors who are prepared to develop within Airport City, to suit
individual tenants requirements on a lease-back basis."
Publisher: Cape Business News
Source: Cape Business News
Industrial properties selling well at Airport City.
Posted On Thursday, 17 July 2003 02:00 Published by eProperty News
The Cape industrial property market has improved significantly since the beginning of the year, with a large take up of existing properties across all areas.
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