26 November 2003

Asrin Property Developers are launching a R15 million 40 unit business park off Bosmansdam Road, Milnerton. The site is conveniently situated off Ratanga Road adjacent the vibrant Century City and close to Table Bay harbour and links in easily with the freeway network. The new park will be known as Prosperity Business Park.

The project has been designed by Paul Judd of Creative Architectural Design.

The park will consist of forty 100m2 single storey multi-use units suitable for most business activities. The units can be expanded into adjoining second units or subdivided to suit the purchaser’s need.

The one hectare site was acquired by Asrin from Murray & Roberts/Rabie Properties.

Marketing and sales will be handled by William de la Porte & Associates and the new development will be very similar to the highly successful Centurion Business Park in Milnerton designed by the same architects. The units, which will cover just over 4 000m2, will be laid out in six rows with ample parking on site. All units will be fitted with alarm systems and provision has been made for 24 hour Internet connectivity.

"There is now," said Ishmail Essa, MD of Asrin Properties, "a demand for this type of development. Serviced industrial land in the Montague Gardens area is in short supply and the Cape’s many smaller businesses need facilities of this type. This is borne out of the fact that 40% of the units have been sold prior to the launch and de la Porte is confident that the scheme will be sold out before the start of construction."

A big attraction of the project, said Essa, will be its security. The park will be enclosed by a perimeter wall with palisade inserts (for improved

visibility) and will have one entrance with a guardhouse. The park will be nestled in a fully landscape environment. The owners will form a body corporate which will provide 24-hour security.

The civil engineering contract, being handled on a design and construct basis by Alan Lacey of Strata Civils is scheduled for commencement before the builder’s holidays. Land surveyor is Biff Lewis of Geomatics. Steve Harding Attorneys will be responsible for conveyancing.

Prices in the new park will start at R330 000 plus VAT per unit and the first handovers are expected in June 2004.