Print this page

Moreland Industrial Parks

Posted On Wednesday, 09 May 2001 03:01 Published by
Rate this item
(0 votes)
THE realisation in the early 1990s that the area north of the Umgeni River cried out for residential, industrial and commercial developments paved the way for La Lucia Ridge Office Estate.

THE realisation in the early 1990s that the area north of the Umgeni River cried out for residential, industrial and commercial developments paved the way for La Lucia Ridge Office Estate.
Roadworks began in May 1996 for the development of the decentralised office estate.
Situated along both sides of Umhlanga Rocks Drive, the estate consists of 12 office parks, translating into 166000m² of office space, each with its own perimeter security and limited-access gates.
Two sites are reserved for open spaces and, when completed, the entire estate will be landscaped.
n each park as well as on the major boulevards. These include coastal forest tree species with a historical link to the former local forest area. Ken Forbes, Moreland's industrial and commercial development director, says the original 100000m² project was expected to sell out within seven years, but this target was reached in four years.
Unilever is constructing its new regional head office and will consolidate its holdings in the city centre into the office park later this year.
Each office park is part of a unified environment, linked by paths.
Forbes says Moreland has made more space available in the eastern and western sections of the estate. Ultimately, the office estate will consist of 14 office parks.
Forbes says the industrial sector market is slow, despite stabilisation of interest rates. Vacancy levels, hit by the steep hikes in interest rates, are inching back to levels acceptable to developers and owners.
The Moreland portfolio has five industrial parks to match the market demands.
The Mount Edgecombe Activity Park & Old Mill Industrial Park was launched in 1994 on 104 hectares of mixed-use industrial land. The development is home to a variety of factories and warehouses.
To date, 10% is unsold, with the latest phase dependent on the removal of the Mount Edgecombe sugar mill, which will provide 46 stands. Land prices range from R120/m² to R180/m², depending on the level of servicing.
Broadlands Activity Park is at the southern edge of Mount Edgecombe, near the residential areas of Phoenix, Broadlands and Mount Edgecombe Country Club Estate.
The park consists of 3,5 hectares zoned for commercial or warehouse use and divided into 13 sites. These have been levelled and compacted to create platforms between 2000m² and 6000m². Prices range between R170/m² and R200/m² of platform area.
The Briardene Industrial Park is 8km from the Durban CBD on the former Corobrik Briardene brickworks quarry. Forbes says this is an excellent example of urban rehabilitation through an earthworks and redevelopment programme.
The current upgrading of North Coast Road to a dual-lane carriageway will dramatically improve access to the development, while the proposed link road from Briardene direct to the N2 and the new Effingham interchange will boost the desirability of this location.
When completed, the park will contain 34 hectares of platformed land. The 11-hectare phase one came on to the market in 1994 and was sold out within weeks.
Moreland has earmarked future phases for release in line with market demand. Present prices average R240/m² of platform area.
The Canelands Industrial Estate is one of the few areas in the greater Durban metropolitan region zoned as general industrial. The 50hectare site near Veralum residential area is five minutes from the proposed La Mercy international airport.
Phases one and two, comprising 14 hectares, have been sold and house several factories, including Colgate Palmolive, Vitafoam and Grafton Everest. Phase three, comprising 13 hectares, is on the market and a 23-hectare final phase will be serviced and released on demand. Phase three sites are priced at R80/m² of platform area.
The Empangeni Old Mill Industrial Estate is positioned to cater for industrial activity along the Empangeni-Richards Bay corridor.
Close to the Empangeni CBD, this development has direct access to both the John Ross Highway and the N2, the backbone of the DurbanMaputo corridor. Land prices average R750/m², with sites ranging between 1000m² and 2000m²

Publisher: Business Day
Source: Business Day
eProperty News

Latest from eProperty News