October 2, 2004

There are now indications that a revival is taking place in the demand for industrial space in the Greater Cape Town area, says Richard Edwards, Manager, New Business, for Nedbank Property & Asset Finance.

And, he adds, it is widely accepted in the property sector that industrial upswings are often followed by upturns in the demand for commercial and office space.

"The outlook in both sectors is now fairly positive," he said. "In the industrial sector it is clear that from the applications that we are processing that many organisations would now like larger or better space in Montague Gardens, Marconi Beam, Airport Industria or Paarden Eiland."
 

At Marconi Beam, said Edwards, Nedbank is funding James Gorrie of Gorrie & Findlay in a project known as Regent's Park. This will bring to the market eight sectional title units suitable for light industry warehousing and/or office space. These will cost buyers in the region of R2 800 per m2.

Regent's Park follows on from the successful Central Park project by the same developer which was also funded by Nedbank. Here all 23 units were sold in under six weeks. At the nearby Platinum Park development 60 sectional industrial units are almost sold out two weeks after they were launched.