PROPERTY: Vacant Industrial Land for New Developments in Pretoria Hard to Come By
Recent Gauteng Business News
This is according to Org Geldenhuys, MD of property development and management company, Abacus DIVISIONS.
“We still have rental vacancies in the Pretoria area, but there is limited space for new developments – and there appears to be a growing demand for new developments, especially -industrial developments.”
He added that there are also issues with older buildings, which are typically not designed to allow large interlink trucks to drive around buildings –nor are they geared for accepting containers with products.
Additionally, low roof heights do not cater for modern stacking and shelving requirements, and are not compliant with the latest fire regulations.
Areas that do have some vacancies for industrial development include the N4 Gateway, Sunderland Ridge and Olifantsfontein.
Irene Rietvlei Industrial was sold out earlier this year and was only “on the market” for three months due to high demand.
The demand is higher for gated industrial estates, with older, established, areas having a limited number of stands available.
But some older industrial areas, such as Hennopspark, are available for redevelopment opportunities.
Business News Sector Tags: Property|