The construction of the first phase of Raceway Industrial Park in Germiston is expected to   commence this month (November 2006).  This joint venture between Atterbury Property, Pangbourne Properties and Gosforth Park Properties will be known as Raceway Industrial Park.

The Park is positioned around the popular Wesbank Raceway facility that was previously known as Gosforth Park.  It is located next to Rand Airport and borders major highways such as the N17, N12 and N3.  This general business park is expected to attract a wide range of businesses in various industries.

The R65-million project will be constructed on a total of 31 hectares and will be subdivided into approximately 25 stands.  The first phase which measures 7.2 hectares is one of three phases and comprises five stands that range in size from 6 451m² to 14 741m².  The second phase consists of a further five stands ranging in size from 6 691m² to 8 802m².   Phase 1 and 2 lie next to one another and adjacent to the Raceway.  Additional phases will follow the development of Phase 1.

“The need for a development such as Raceway Industrial Park has arisen because of the dearth of new industrial property sites in and around Johannesburg.  Despite the increased demand in the market for space, we are still able to sell our tracts of land for a reasonable price,” says Nico Prinsloo of Atterbury Property.”

Paul Jacobs of Pangbourne property says that they are willing to develop industrial buildings on some of the stands to suit tenant requirements and in terms of their investment criteria. A mini factory development of approximately 20 000m² is also planned at the entrance to the Park.
 
Existing facilities at the Raceway include conferencing venues as well as retail and restaurant outlets.  The racing activities at Wesbank Raceway will continue to exist and will benefit from the development. The Park will be not only be in close proximity to commuter rail facilities but will also be secure with 24 hour access control and CCTV surveillance. 

The Gosforth Park area has seen increased industrial development in recent years which has been largely responsible for the rise in stature of the area as a whole.  The developers are also expecting to see further development in distribution warehousing and mini factories.

For further information contact Nico Prinsloo of Atterbury on (011) 706-1176 or Paul Jacobs of Pangbourne on (011) 889-8500 or 082 601 2242.