GROWTHPOINT Properties has launched a R150 million client-driven industrial property development and redevelopment programme in Gauteng. In Meadowbrook, Germiston, Growthpoint is developing a state-of-the-art facility, worth R100 million. The new building will span 10 000 m2, with expansion possibilities. The tailor-made structure will be ready for occupation in May 2013.

The facility will comprise 2 500 m2 of office space and 7 500 m2 of high-tech, high-spec warehousing for Grundfos South Africa. The remaining phase, which could accommodate another 7 500 m2, is now gaining strong interest.

Further, the property developer is developing a R17 million warehouse, office and showroom spanning some 1 800 m2 in Elandsfontein, Johannesburg. It is also redeveloping an underperforming asset, which enabled the company to secure a five-year lease at market rentals. In keeping with energy efficient drive, the property developer will add low-energy lighting to the project, which began in January 2013 and will be complete before the end of the year.

In addition, in Sandton, the company is redeveloping a 1 453 m2 portion of the Commerce Corner premises. The redeveloped Commerce Corner will enjoy excellent visibility and easy access both to the N1 and N3 highways.  The company will invest R13 million in the redevelopment to improve the asset.

Meanwhile, the industrial property development and redevelopment programme also include the extension of the Growthpoint Industrial Estate, in Meadowdale, Gauteng, by 2 080 m2 to 13 869 m2. The company indicated that the expansion, which was due for completion in May 2013, will comprise a new aerosol room, built to international specifications, as well as added storage and warehousing space.

Source : abdas.org

Posted on : 30 Nov,-0001