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Basil Read concludes big Klipriver property deal

8th March 2013

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

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JSE-listed construction and engineering group Basil Read subsidairy Basil Read Devel-pments reported recently that it had sold the seventh property within its Klipriver Business Park development.

The $15-million deal would see a 3.2 ha prop- erty within the business park transferred to China-based agricultural food manufacturer New Hope Group next month, after which the construction of an animal farm and food manufacturing plant would start.

Basil Read Developments started construc-tion of the four-phase, R390-million Klipriver Business Park development in 2009, Basil Read Developments MD Des Hughes said.

The development, located on the farm Waterval with a development land size of 118.9 ha, covered the R59/R550 interchange, with access to major road networks, such as the N1 and the N3, as well as a rail network.

It was expected to house 96 saleable erven and provide a “superior high-tech working environment”, he added.

The business park, which would include on-site security, an adjacent police station and full access control and perimeter security, was to be managed by consulting property manager Oakwood Properties.

Phase 1 of the project comprised 48 fully serviced properties spanning 52 ha and included fibre-optic communication systems, landscaping and security.

A Paramount Trailers manufacturing facility was one of the seven occupants, Hughes com-mented.

The development of the remaining three phases would be market driven.

Edited by Martin Zhuwakinyu
Creamer Media Magazine Managing Editor

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