Capricorn Park, the 68ha business-cum-industrial park in Muizenberg, has sold all available industrial property stands in its first phase.

Capricorn Park asset manager Wendy Hartshorne said on Friday that all 82 industrial sites had been sold, with 69 industrial erven sold in the past year for R65m.

She said the sites had been sold mainly to owners and occupiers: South African businesses based for the most part in Western Cape and involved in manufacturing and distribution.

Capricorn Park was seeking planning permission from local authorities to proceed with the second phase of the industrial portion, expected to be launched early next year.

Hartshorne said there was a "specialised industrial warehousing trend" in Western Cape and that the park would take advantage of this. Strong demand for industrial property in Cape Town was fuelling a scramble for space.

The park had received many inquiries about office space. To date, 12 of the 44 office had been sold, seven in the past year.

Business Day
Publisher: I-Net Bridge
Source: I-Net Bridge