R55 million industrial lease concluded by Pam Golding Commercial in Gauteng

Posted On Tuesday, 15 November 2005 02:00 Published by
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Pam Golding Commercial in Gauteng has concluded two major transactions for the lease of industrial space in Germiston, at a combined capital value of R79 million.

Pam Golding Commercial in Gauteng has concluded two major transactions for the lease of industrial space in Germiston, at a combined capital value of R79 million. The first transaction, which is valued at R55 million and is one of PGC's largest industrial leases this year (2005), was concluded by Alex Harper, leasing and sales director for the company's Gauteng region.

The 10 year lease is for a factory commonly referred to as the 'Imperial Warehouse', formerly the Bridgestone warehouse, which is well situated in Driehoek - a key industrial area in Germiston, with easy access to highways.

The property comprises 27 000sqm under roof and offers 30 000sqm of concrete yard space, providing excellent drive-through's and turning circles for use as a distribution centre.

Says Harper:  "The nature of new tenant's business, Overnight Sensation, is the storage and distribution of logistics – for major blue-chip companies - and product manufacturing."

The second transaction, which was concluded jointly by Harper and PGC broker, Lelané Leach, was for the lease of a 12 000sqm warehouse in Germiston south, on behalf of a bottling company. The capital value of the lease is R24 million.

Commenting on the industrial property market in Germiston, Harper says because of its convenient and accessible location, this area is ideal for warehousing and industrial manufacturing, and says larger properties are in high demand.  "The demand for larger industrial premises of 5 000 to 10 000sqm outweighs the supply."

For further information contact Pam Golding Commercial on 011 3010600.

Ends

Issued by Gaye de Villiers

Tel: 021 6837788 or 083 325 1939

On behalf of Pam Golding Commercial


Publisher: Pam Golding Commercial
Source: Pam Golding Commercial

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