This comes with the announcement of a R141 million project.
 
The 30 299m² warehouse is to be built for Supply Chain Services on an Old Mutual site which runs between Rudo Nel and Yaldwin Streets in Jet Park.
 
Supply Chain Services which already occupy a 25 000m² warehouse in Rudo Nel Street, will lease the property for 10 years, says Thys van Heerden, the development originator at Old Mutual Investment Group Property Investments (OMIGPI).
 
The building, which is scheduled for completion next year, has been designed for maximum flexibility. It has a large hardstand for truck parking and manoeuvrability.
 
Van Heerden says the Supply Chain project follows the start of construction of a R93 million warehouse development on Rudo Nel Street.
 
“The development, for leasing on the open market, will comprise two units of
10 000m² each which could be further divided for letting flexibility. The shortage of good industrial property, coupled with a scarcity of land in popular areas and a buoyant economy, has led to a growth in rentals,” says Van Heerden
 
This development which will feature 8,5m eaves heights for high stacking, large areas of hardstanding and offices, is due to completed by mid-2008.
 
It is the fourth development to be undertaken by Old Mutual Investment Group Property Investments over the last year in response to strong demand for quality warehousing.
 
“The demand is reflected in the rapid take-up of space at additions to Phumelela Park , Cape Town,  and at the new Mahogany Ridge Industrial Park at Pinetown, Durban,” says Brent Wiltshire, business development executive at Old Mutual Investment Group Property Investments.
 
Wiltshire says Old Mutual is able to address demand for space through having vacant land in key areas of the major cities.
Publisher: Old Mutual Investment Group Property Investments
Source: Old Mutual Investment Group Property Investments