Vacant industrial land for new developments in Pretoria hard to come by.

Irene is growing into a major business hub that complements Centurion and Menlyn Park's business nodes as development continues in the area.

Vacancies in the office property market have decreased by 40% in the greater Irene area

Property development and marketing company, Abacus Divisions, has announced that it has sold all the stands –totaling more than 123 000 square metres -at its recently launched Rietvlei Industrial Estate, raking in a total of R105 million.

Developments and upgrades within the greater Irene area continue unabated with the announcement that the long-awaited upgrade to the Nelmapius Road Bridge over the R21 highway is on track and due for completion at the end of the first quarter of 2014.

It appears that industrial property developers are looking at developing smaller properties –certainly in the greater Irene area –and this became evident at the pre-launch of the latest industrial development in Irene, The Rietvlei Corporate and Industrial Estate.

Abacus Divisions reports that, after a slow start to the year, it sold seven stands – worth R25 million – in the Irene area.

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