Redefine Income Fund has acquired a rare parcel of  developable land totalling 76,000m2, in the established industrial area of Isando, for the development of  an industrial park at an investment cost of approximately R100 million, including the land acquisition.

“The shortage of quality industrial properties to let or as an investment resulting from strong economic growth prospects at present, as well as general demand from property funds for quality properties, makes this acquisition a real coup,” notes Redefine’s Grant Abrahams.

The industrial park, which is well located on Quality Road and with convenient access and egress, will be developed to tenant specification. Premises range from 25,000m2 to 5,000m2, depending on specific requirements, with Redefine retaining ownership of the buildings within its investment property portfolio.

With coverage ratio of approximately 45%, which will allow for optimum vehicle manoeuvrability and materials handling, with the primary focus of the development being on warehousing distribution.

“Redefine is experiencing a keen demand for premises from large industrial users, especially in well developed nodes such as Isando and Jet Park and we are confident that uptake will be swift and the development will be welcomed by potential users,” notes Abrahams.

~ Ends ~

Distributed on behalf of:       
Redefine Income Fund
Grant Abrahams
Tel.      011 283 0000
Cell      083 255 2351

By:                                          
Marketing Concepts
Sandy Davey
Tel.      011 783 0700
Cell      083 453 6668