As demand for industrial space continues unabated, the last major tract of land in Briardene has been snapped up to make way for an exclusive industrial park.
The 90 000 square metre site was sold by JHI Real Estate broker manager, Alan Dryburgh, to Vexma Properties. Vexma plan to develop the seven sites making up the secure park to client requirements.
Dryburgh says that the response from industrialists to the park has been immediate. "Two industrialists have already secured their projects," says Dryburgh. The first is a R23-million development covering 6500 square metres and the other comprises 3000 square metres of warehousing.
He adds that Briardene has become a very popular destination since the installation of Queen Nandi Road connecting North Coast Road and the N2.
"Moreland Developments has contributed significantly towards the infrastructure in the area and enabled this industrial node to realize its full potential."
The 365 000 square metre Briardene estate was established over ten years ago and has been developed in 3 phases. The last few sites in phase 2 were sold out by Dryburgh in late 2004/2005 and this latest sale represents the final major land sale in phase 3.
Dryburgh says that supply is generally battling to keep pace with demand as investors, owner-users and tenants continue to expand their operations looking for new and bigger space, fuelled by a buoyant economy and a rapidly growing middle class consumer boom.
"Enquiries are flooding in for industrial property across the board, from 1000 square metres to tens of thousands. We expect this buoyancy to continue for at least the next 12 -18 months provided that interest rates and other major economic indicators remain relatively stable," he adds.
Publisher: JHI Real Estate
Source: JHI Real Estate
