Growthpoint Properties will complete the final phase of its 40,000sqm Millroad Industrial Park in Cape Town this month.
Developed by Growthpoint in three phases, Millroad Industrial Park is a storage, warehousing and distribution park consisting of premium-grade warehousing with associated offices in the established industrial area of Bellville Industria.
The first phase of Millroad Industrial Park is fully occupied by Laser Logistics leasing 5,000sqm with 1,000sqm expansion potential. The 22,000sqm second phase was completed at the end of 2018 and is significantly let.
Now, the final phase of the project is well underway, adding 13,000sqm of quality sub-divisible space to the park, and will be completed in December 2019. Like previous phases, it combines warehousing with offices, however this phase is designed for smaller users and comprises four units with a minimum size of 2,700sqm, says Errol Taylor, Head of Asset Management: Industrial at Growthpoint.
Each of the new units offers drive-through facilities and has a shared yard in the front and a dedicated yard at the back. They have clear internal stacking heights of eight metres to eaves and are sprinkler protected. In addition, the park is energy and water efficient, resulting in lower occupation costs. There is also plentiful power supply to the site.
Riaan Munnik, Growthpoint Properties Western Cape Regional Development Manager, says, The final phase of Millroad Industrial Park is coming to market at the ideal time when industrial development in Cape Town has slowed and the letting of speculative development in the city has started to pick up.
Millroad Industrial Park is ideally located opposite the well-known Sacks Circle near the R300 highway, with easy access to the N1, N2 and R300 highways and benefits from excellent highway visibility. It is also well positioned to benefit from the future extension of the M10 Robert Sobukwe Road, which has already improved its accessibility even further.
The industrial park is within walking distance from public transport, with the Sarepta passenger rail station being a mere 300 metres away. Ensuring the safety of the units, the park has full perimeter security fencing, onsite security management and 24/7 security guarding.
Taylor adds, Millroad Industrial Park, with its premium-grade facilities, further strengthens the logistics and warehousing component of Growthpoint’s diverse industrial portfolio. It is a great asset and, because it is being delivered by Growthpoint’s own development team, we can be confident in its quality.
Growthpoint creates space to thrive with innovative and sustainable property solutions. It is South Africa’s largest primary JSE-listed REIT with assets of nearly R126bn, including a 50% holding in Cape Town’s iconic V&A Waterfront. Growthpoint is invested in real estate and communities across three continents including Africa, Europe and Australia.
Growthpoint Properties Limited
Errol Taylor, Head of Asset Management: Industrial at Growthpoint
Riaan Munnik, Growthpoint Properties Western Cape Regional Development Manager
Tel: +27 (0) 11 944 6000