An area long under the eye of various Cape developers is finally coming into bloom. A new business and industrial park, Airport City, is about to take shape at a site where earlier developments had almost completely sold out. Total land sales over the next five to eight years could top R180 million.
The project, financed by the Cape of Good Hope Bank, is being developed by Airport City Property Holdings at a site between Borcherds Quarry Road, the N2 freeway to Somerset West, Thunder City and the airport runways. It has a total area of 66,6 hectares, which will be divided into 223 erven.
Phase one of the project now being launched will cover 168.300 m² and will put 73 erven on the market with a value of R40 million. The first 40 erven will be ready for occupation in the third and fourth quarter of this year.
Richard Edwards, head of Commercial and Industrial Property at COGHB says the site has major advantages, being close to the airport and Cape Town and having easy access to the freeway network.
The area has already proved very popular with freight, car hire, warehousing and light manufacturing companies. Prices in phase one will be around R230 per m².
Publisher: Rode
Source: Rode