Almost 50% of land sold in Firgrove Industrial Estate
Category New Development
Almost 50 percent of the total of 27ha of serviced industrial land has now been sold in Firgrove Industrial Estate, a hub just off the N2 just 15 minutes from Cape Town International Airport.
Dudley Annenberg, managing director of the developer, Annenberg Property Group, says: “In the past six months we have sold 18 sites on 7.5 ha for R65 million in this strategically positioned site. It’s the only development in the Western Cape capable of accommodating big box warehousing and large scale manufacturing facilities at a low entry cost – and in a 24-hour security park development.
“During this period we’ve had a surge of enquiries for land in this security estate with a number of sales pending. Based on the current high interest and level of enquiries, we expect the entire development to be sold out within the next 12 months. We have sufficient land that can even be consolidated to develop a 30 000 m2 footprint or a variety of smaller permutations to suit the requirements of buyers or tenants.
“We also offer a full turnkey development service to buyers of land. Most companies simply cannot take the time out to deal with managing the development of their new facility and so we take this hassle off their hands by providing a design and construction offering. This has resulted in three such developments commencing or about to commence representing a total capital investment of R94m.”
With prominent exposure onto Macassar Road, Firgrove Industrial Estate is two minutes from the N2 at the Firgrove / Macassar off-ramp, adjacent to Denel and with commuter rail access close by at Firgrove station. It is 30 minutes to Cape Town CBD and harbour and easily accessible to the N1 and R300, while Somerset West is about eight minutes’ drive and Stellenbosch only 20 minutes away.
And, as Annenberg points out, with the rapid expansion of Sitari Village across the N2, Firgrove is ideally situated for residents who want to move their businesses close to home.
Sites range in size from 1 900m2 priced from R850/m2 for 3 000m2 upwards, to R1 050/m2 for 1 900m2, excluding VAT. Annenberg says ample power is supplied to the estate, which is enclosed and secured by fencing with a single entry point and there is 24/7 manned security and camera surveillance.
Says Annenberg: “Firgrove offers good value for money with excellent upside potential. Sites are competitively priced as serviced industrial land is in short supply in the Western Cape, with land values between R1 500/m2 and R2 000/m2 being achieved in areas nearer the city and close to the N1.”
Annenberg has employed one security company to patrol the entire estate, reducing the need for individual security guards for each property.
“We have already built a complex comprising six sectional title mini-factories which have all been sold. As a result of this successful project we have sold further sites to developers who intend to offer more units for sale and to let that will come on stream in mid-2018.
“The entire complex is governed by a progressive and modern design guide that sets the standard of finishes which brings uniformity without any added cost. In addition, landscaping will play an important role in setting a high standard, with all pavement reserves landscaped with water-wise plants which will be maintained by the property owners association staff members.”
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Author: Dudley Annenberg