R850m industrial hub planned for Gosforth Park site
Atterbury Property Developments is developing an R850-million, 103 000 m2 indus- trial and business park at the intersection of the N3 highway and Rand Airport road.
The company designed the park on a site it acquired in Gosforth Park, Germiston, to provide business space for blue-chip light industrial users requiring big box logistics warehouses, as well as showrooms and offices.
Construction of the development, which has already been zoned and serviced, is expec- ted to start this year and will be completed over the next three years.
Atterbury Property Developments director Coenie Bezuidenhout explains 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 is set to receive a new injection of investment.
“It offers a sweeping highway frontage with excellent visibility and has superb in-out access right on a major highway intersection,” says Bezuidenhout.
Atterbury Property Fund CEO Wouter de Vos adds that industrial property remains attrac-tive and represents 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 streng- thening the sectoral diversification of our assets.”
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