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 R300 MILLION OVERNIGHT SALES BLITZ ON BRACKENFELL LIGHT INDUSTRIAL ERVEN First phase of landmark top-end security park sold out in 24 hours
The Cape’s smart money is moving north, if a recent 24-hour sellout of all 77 light industrial zoned erven on 10 hectares of land in the Brackenfell area is an indicator. They form the first phase of a 25ha high-end security development, Brackengate Business Park, with an estimated developed capital value of over R1 billion.
Considered phenomenal in the current market, the saturation sales were achieved by a consortium of three brokerages, Gary Luyt Property Group, Tag Properties and Assetbridge Real Estate. The exceptional demand is attributed by leading property economist, Erwin Rode, to a restricted supply of well-positioned land with full services, including electricity. ‘Although interest rates have impacted negatively on the residential market, the industrial and office block markets are less sensitive to increases in interest rates. The expected 2% to 3% economic growth for SA will underpin the demand for good quality industrial and office space over the next few years,’ said Rode. Fanie Botha, who is developing the park with fellow director Izak van der Merwe of the Van der Merwe Venter Property Group, in a joint venture partnership with Standard Bank, said the sell-out represented a 100% oversubscription of the first phase and that some erven were oversubscribed six times. ‘The land value is phenomenal, and the position for the purpose is excellent. In total, orders exceeding R300 million were taken.’ Botha said that the 14 remaining erven, all one hectare or more, are available for larger developments and some of the bigger sites are earmarked for joint ventures between his company and other interested end-users. The group, founded by Izak van der Merwe in 2003, is best known for its leading role in developing the very successful Northgate Estate, anchored by the Builders Warehouse megastore at the start of the N1 west of Century City. The infrastructure of the park will be completed towards the end of the year. The site is on the eastern side of the R300 highway half way between the Old Paarl Road and Bottelary Road overpasses. ‘The position of the park near to arterial roads makes it suitable for occupants in a wide range of enterprises who need efficient access to the Cape Metropole,’ says Botha. It also has easy access to passenger transport for staff, and a taxi parking area is a feature of the development. The park is also meeting a pent-up demand for light industrial land that has previously been served by areas closer to the city. Kurt Gouwsventer of ASSETBRIDGE REAL ESTATE mentioned that: ‘Brackengate, is the first phase of a 120 ha industrial development which will be released over the next 5 to 10 years along the R300 in Brackenfell with a link to Stikland Industria via a bridge planned for construction in 2010 as well as a new off-ramp at the Bottelary bridge ,’ he said. Access to the new development is excellent and will become even more efficient with the imminent widening of the R300 and Bottelary Roads. The developers have made a R16 million contribution towards the Bottelary project. ‘The development of Brackengate Business Park covers a broad range of priorities, including the provision of attractive design guidelines and the preservation of the park’s prestige to reflect well on its occupants,’ says Botha. ‘Even the security entrance has been designed to underline the quality of the development. It is large and imposing, high enough to accommodate fully-loaded heavy-duty vehicles. We have taken seriously the fact that when completed, it will be the workplace of more than 10 000 people all of whom deserve a well-designed, attractive environment.’ For more information, calls can be made to Kurt Gouwsventer on 083 655 1144 or on 021 905 8490.
 DESIGN MANUAL & ARCHITECTURAL GUIDELINES prepared by BOOGERTMAN + PARTNERS ARCHITECTS 1 June 2008 ( Final Version ) The Brackengate Business Park is one of the City’s flagship projects occupying a highly visible and prominent location. Rather than simply being another commercial strip, The Business Park is intended to form a distinctive node and landmark within this zone. CLICK HERE TO DOWNLOAD FULL DOCUMENT (.PDF - 8.3MB) |
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