Big rental dis­count en­hances project’s ap­peal

Weekend Argus (Saturday Edition) - - PROPERTY -

SOM­ER­SET West is un­der­pin­ning its ap­peal as an in­dus­trial lo­ca­tion with rentals for a new de­vel­op­ment pitched as much as 40 per­cent lower than those in other es­tab­lished nodes in greater Cape Town.

South Africa’s largest listed prop­erty com­pany, Growth­point Prop­er­ties, has an­nounced gross rentals of R30/m² for units at the re­cently ac­quired The Grove Busi­ness Es­tate in Som­er­set West.

“That is a sub­stan­tial dis­count on rentals for new de­vel­op­ments in ar­eas such as Ep­ping, Mon­tague Gar­dens, Paar­den Ei­land and Air­port In­dus­tria,” says David Stoll, head of Growth­point in the West­ern Cape.

“The R30/m² rate is avail­able for a lim­ited pe­riod and com­pares favourably to rentals of sim­i­lar units in Som­er­set West and other nearby nodes.

“This favourable rental can as­sist busi­nesses in re­liev­ing some of the fi­nan­cial pres­sure af­fect­ing them in the cur­rent eco­nomic down­turn while en­joy­ing the mod­ern fa­cil­i­ties on of­fer at The Grove.”

Stoll says Som­er­set West’s at­trac- tions, com­pared to tra­di­tional in­dus­trial ar­eas, lie in its easy ac­cess to ma­jor routes, a pleas­ant and se­cure work­ing en­vi­ron­ment and the prox­im­ity of a ma­jor labour pool.

“The Grove is ad­ja­cent to the Som­er­set Mall Tri­an­gle, a precinct that has ben­e­fited from pro­fes­sional ur­ban de­sign and in­no­va­tive build­ings. Al­though the precinct has seen con­sid­er­able growth in re­tail, com­mer­cial and in­dus­trial sec­tors, it does not suf­fer the con­ges­tion as­so­ci­ated with es­tab­lished in­dus­trial ar­eas.”

Jo­han Grob­ler of Growth­point, who is the leas­ing man­ager at The Grove, says the es­tate an­swers a need for qual­ity fa­cil­i­ties for ware­hous­ing and dis­tri­bu­tion use or light in­dus­try, with am­ple land­scap­ing, good se­cu­rity and park­ing.

“It is con­ve­niently lo­cated with easy ac­cess to the N2 and the R44 and within 20 min­utes drive of Cape Town In­ter na­tional Air­port,” Grob­ler said.

“Apart from of­fer­ing ex­cel­lent ex­po­sure on the N2, the prop­er­ties are flex­i­ble and ar­eas can be adapted to meet ten­ant re­quire­ments.”

MOD­ERN FA­CIL­I­TIES: An aerial view of The Grove Busi­ness Es­tate in Som­er­set West.

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