Refurbishments and upgrades enhance property values, reduce vacancies

The industrial property market in Cape Town's Northern Suburbs is experiencing an increased demand for smaller light industrial space, reports Nicol van Wyk, leasing and sales broker for JHI properties in the Western Cape.

Over the past decade, an increasing demand for large warehousing space among distribution and logistics companies has resulted in the establishment of new industrial townships next to the main arterial and secondary highways between the north and eastern suburbs of Johannesburg.

Vukile Property Fund has further demonstrated its commitment to maintaining and enhancing the value of its portfolio by investing R2.9 million in the refurbishment of its East London flagship property, Sanlam Business Park, a fully tenanted, upmarket, four-level building situated in Vincent, East London.

Westmead industrial area remains in demand, two large leases concluded by JHI Properties KZN

Opened in May this year, the 19 239 square metre Hammarsale Junction retail centre in Mpumalanga New Town Centre in Hammarsdale, KwaZuluNatal is trading successfully and is 98 percent let.

There's no doubt that the roll-out of the Gautrain has been a success in providing safe, quick and convenient means of transport to and from the workplace, and according to the Gautrain website, since the opening of Park Station in Rosebank there has been a dramatic increase in the demand for the Gautrain and its bus services.

Managing a portfolio of in excess of R59 billion in assets on behalf of property owners in Southern Africa and on the African continent, from 1 January 2014 JHI Properties will be headed up by Nomzamo Radebe who takes up the position of managing director. 

Easily accessible via major routes in and around the city as well as Cape Town International Airport, the commercial/industrial area of Maitland in Cape Town remains an ideal location for a variety of businesses

Excellerate Property Services (EPS), which was formed following the Excellerate group’s acquisition of a stake in JHI Properties in 2010, continues on its focused, strategic growth path, says Marna van der Walt, who was appointed CEO of EPS in October 2012.