The group says the expansion is in response to rising demand for industrial space in greater Cape Town.
"Phumelela Park has quick access to major distribution routes such as the N1 and N7 and is close to the harbour, the Cape Town central business district and the northern areas.
"With its location and ability to accommodate large warehousing space, Phumelela Park is a prime area for expansion," says Rommel Lukuko, head of development management and construction at Old Mutual Property Group.
The park is in a precinct bounded by Montague Drive, Racecourse Road, Freedom Way and Omuramba Road.
Existing tenants include Maskew Miller Longman, Aberdare Cables, Cargo Planning & Distribution, Crown Removers, and Foschini.
Lukuko says that the most recent developments in the Montague Gardens area have tended to be sectional title units of no more than 1,000m² aimed at owner-occupiers.
"In this expansion of Phumelela Park, the units will range from 3500m² upwards and will specifically cater for the medium to large-scale user on which Old Mutual Property Group has been focused in recent years," he says.
Phumelela Park's existing steel fencing and gates, security lighting and interlocking paved yard areas will be extended for the expansion.
The development is expected to be ready for occupation in the first half of next year.
The development will consist of warehousing space, with offices on a 5,75ha area.
Business Day
Publisher: I-Net Bridge
Source: I-Net Bridge
