Atterbury Property Developments is developing a R850-million, 103 000 m2 industrial and business park at the intersection of the N3 highway and Rand Airport road.
Atterbury designed the park on a site it acquired in Gosforth Park, Germiston, to provide business space to blue-chip light industrial users requiring big box logistics warehouses, as well as showrooms and offices.
Construction of the development, which had already been zoned and serviced, was expected to start this year and would be completed over the next three years.
Atterbury Property Developments director Coenie Bezuidenhout explained that the company chose the highly visible site, on the preferred side of the Gillooly’s interchange, for freight coming into the province from Durban and other port cities, as part of its expanding portfolio of developments in Johannesburg, as it was set to receive a new injection of investment.
“It offers sweeping highway frontage with excellent visibility and has superb in-out access right on a major highway intersection,” said Bezuidenhout.
Atterbury Property Fund CEO Wouter de Vos added that industrial property remained attractive and represented a defensive property play during a cycle of uncertainty.
“It commands longer leases relative to other commercial property sectors and is a rising interest rate environment; it is an asset class that can match debt with income profiles. For Atterbury, it also lowers risk by strengthening the sectoral diversification of our assets.”