Phase six will be launched towards the end of 2005.
Airport City Property Holdings GM Linda Hartog attributes this success to a strong local economy, surging demand for industrial space from local and international users and a finite amount of vacant industry-zoned land.
The industrial park is owned by an Italian consortium driven by local shareholders and a professional team which includes MH&A Consulting Engineers, Gibb Africa, geotechnical engineer Kantey & Templer, infrastructure engineer HHO Africa, town and regional planners Urban Dynamics Western Cape and Heinrich Gerstner Harding Architects.
Flanked by Cape Town International Airport, the N2 freeway and Borcherds Quarry road, the high-tech light industrial park has high visibility, access to all main highways and upgraded security due to a steel reinforced and electrified Baekert Bastion perimeter fence, 24-hour security patrol and CCTV electronic surveillance from a guardhouse.
It is almost 80 ha in total, and is the last remaining node alongside the airport where land can be purchased; other opportunities in the area are for lease and do not offer ownership rights.
Hartog says land sales began in August last year and phases one, two and three were also sold out in record time.
Purchasers include a number of international companies, including Barloworld, Bell Equipment, Caterpillar, EGL Global Logistics, Volvo, CDC Couriers and Pioneer Freight.
Phases four, five and six comprise bulk sites ranging from 2 ha to 3,5 ha as well as smaller opportunities in the 1 000 m2 to 5 000 m2 range.
While prices in other industrial areas of the Western Cape can be R600/m2 to R700/m2, land at airport city is priced from R300/m2 in phase one to a maximum of R475/m2 in phases four and five. Airport City appointed four broking companies to market the park: Broll Properties, Baker Street Properties, Marriott Corporate Properties and Diamond Properties.
The conveyancer is Sonnenberg McLoughlin. At present numerous factories are being erected in phase one, services for phases two and three are to be completed in July this year and services for phases four, five and six will be completed by January or February next year.
Hartog says buyers have three years to build and have options to land bank, develop the site for tenants or for their own use.
“In phase one there is a high ratio of owner-occupiers (about 80%), phases two and three have 60% owner-occupiers and in phases four, five and six there is a good ratio of owner-occupiers but a larger influx of developers and investors,” she says.
Airport City has design guidelines in place to create a harmonious look and feel and glass, stone and aluminium will be incorporated into the construction of the buildings.
The developers have erected a water feature and a futuristic-sculpted concrete structure, designed by Cape Town land artist Strijdom van der Merwe, near the entrance to Airport City.
In addition, there will be about 7 000 m2 of landscaped areas and stormwater catchment ponds and systems will be transformed into environment-friendly water features.
The park has established a Property Owners’ Association, which is managed by Spire Property Management.
“This will ensure that owners have a say in the park in order to uphold the architectural guidelines, enhance the aesthetics of the park and maintain the value of the property,” says Hartog.