With industrial space in high demand at the Capricorn Business Park in Muizenberg, just south of Cape Town, a premium A-grade industrial warehousing property which has just become available to let is expected to rapidly attract attention in the marketplace, says Seamus Daly, leasing, sales and investment broker for Pam Golding Commercial. The property is currently tenanted by a logistics company and would be ideal for a distribution centre, given the accessibility to Cape Town International Airport.

"We have just received a mandate on a property within Capricorn Business Park that offers warehousing of 2210sqm and 714sqm of quality office space - carpeted and air-conditioned, at a competitive rental rate of R34 per sqm per month. This includes a large paved yard and parking area of 7000sqm, 14 loading bays with dock levellers, washbay, staff canteen and ablution facilities," says Daly. "In addition, there is the potential to expand the warehousing space up to an additional 1875sqm. The property accommodates fully articulated vehicles and has 8 metre floor to ceiling clearance as well as good security with two metre high walls and zoned electric fencing.

The offices, which face south towards the nearby mountains are attractive with a large open plan area and individual offices."

Capricorn Business Park is well situated with convenient access to the N1 and N2 via the M5. It's a pleasant working environment with only 60 percent coverage permitted and with 20 percent of the remaining space landscaped.

"This is a very attractive location in which to work, with buildings set amid the natural dune fynbos, a lake, open jogging tracks, a conference centre for the use of tenants and with scenic mountain views. Capricorn Park is experiencing a high demand for space, which is hardly surprising given its convenient and accessible location, coupled with the fact that it is within easy reach of Mitchells Plain and therefore accessible for employees.

Also, for those residing closer to Cape Town, traffic congestion would be avoided due to the fact that one would travel against the busy peak hour traffic," says Daly.

"A clear indication of the high desirability of Capricorn Business Park is the fact that a new development comprising 6 000sqm of gross lettable area - being sold as sectional title units or space to let - and which is due for completion in March next year (2009) is already 70 percent taken up.
Consisting of a mix of warehousing/distribution/showroom type space, the selling price is R6 000 per sqm with rentals ranging from R40-R60 per sqm,"
he adds.

Pam Golding Commercial currently also have vacant sites of 1 200-3 600sqm available at R1150 per sqm as well as lakeside sites of 2000sqm to let at R1200 per sqm. Daly says later in the year further space will become available for purchase, including air-conditioned office accommodation with quality finishes and situated close to the lake at approximately R90 per sqm.