John Konti may push Somerset West investment to R60m

Posted On Thursday, 25 November 2004 08:49 Published by
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The John Konti Property Group could see its investment in Somerset West swell to more than R60m if several new projects come to fruition
The John Konti Property Group could see its investment in Somerset West swell to more than R60m if several new projects come to fruition.

The group, which is negotiating projects worth R40m, is already developing a R14m multiuse industrial business park and its own R5m head office within the 12,8ha site it bought from Heartland Properties, a member of the AECI group.

John Konti, which has named its land Olive Grove Industrial Estate, recently completed a R12,6m manufacturing facility on the site.

The 5600m² multi-use business park at Olive Grove Industrial Estate will be known as Blue Crane Park, and will comprise six units ranging from 450m² to 1800m².

Wendy Viola, sales and marketing manager of Heartland Properties, which is responsible for the continuing redevelopment of AECI land between Somerset West and Strand, says the Olive Grove Industrial Estate is an indicator of the activity on the site. She says the development adjacent to the estate, known as The Interchange, has attracted businesses such as Outdoor Warehouse, Tile Afrika and Plumblink.

Business Day
 
Publisher: Business Day
Source: Business Day

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