Construction World April 2016

Major development in GERMISTON Atterbury will develop a R850- million industrial and business

park on the prime site it has acquired in Gosforth Park, Germiston, in Ekurhuleni.

A leading property investor and developer in South Africa and beyond, Atterbury has designed the ready-to-develop park to provide

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103 000 m 2 of modern business space for blue-chip light industrial users requiring big box logistics warehouses as well as show- rooms and offices. Superbly located at the intersection of the N3 highway and Rand Airport Road, right on the Elandsfontein interchange, Atterbury’s highly visible site is on the preferred side of the busy Gillooly’s interchange for freight coming into the province from Durban and other port cities. Gosforth Park is an area that Atter- bury knows well. A decade ago, Atterbury purchased the former Gosforth Park horse racing track, turned motorsport raceway, from Wesbank. It redeveloped the property into Raceway Industrial Park, the first major commercial property development in the node and a trigger from exponential surrounding property development, which it sold on to Pangbourne in 2009. Coenie Bezuidenhout of Atterbury Property Developments explains that, in addition to its track record of demonstrated development success in the Gosforth Park node, it chose this site as part of its expanding portfolio of developments in Johannesburg because the node is set to receive a new injec- tion of investment. “All this was achieved within an exacting timetable. We are exceptionally pleased with the results.” factory area, constructing a new 2 500 m² office block and a complete upgrade to all the existing offices with new carpets, ceilings and energy-efficient lighting and air conditioning. All the polycarbonate sheeting on site will be replaced to ensure the maximum use of natural light in the warehouse area.

Also, the Atterbury site is the best positioned, and last, major site for development in the immediate area. “It offers sweeping highway frontage with excellent visibility and has superb in-out access right on a major highway intersection,” says Bezuidenhout. Commenting on the development, Wouter de Vos of Atterbury says: “Industrial property remains attractive and represents a defensive property play during a cycle of uncertainty. It commands longer leases relative to other commercial property sectors. In 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.” He adds: “We’re particularly pleased to secure such a sought-after site in a major established and growing industrial node in Gauteng – SA’s economic hub.” Atterbury’s Gosforth Park development is at a strategic transport confluence, which links Gauteng to the rest of the country, the region and the world, by road, rail and air. As well as its excellent access from the N3 highway, it also is easily accessible from Growthpoint also added energy-efficient lighting to the factory area, which received new bathrooms too. Ensuring a comfortable working expe- rience, staff and canteen facilities were revamped and a shaded car park, with space for around 175 staff cars, was added. Growthpoint is also providing 30 cranes, two weighbridges and a security camera system on the premises, all of which will be incorporated into the rental to ensure CSI has all the necessary equipment on site, supporting cost efficiencies. As a highlight of the facility, the newly developed 2 500 m² office block, is constructed incorporating the use of CSI’s

the N12, N17 and even the M2 highways. It has a dominant position at the gateway to Gosforth Park and surrounding business areas. The development is also near to the City Deep inland port. “This development is positioned to be the first choice for business, especially those involved in logistics – from cargo handling to courier services, warehousing and freight,” De Vos points out. The development will be undertaken by Atterbury Property Developments. Construc- tion will begin this year and the development is set for completion over the next three years. Bezuidenhout confirms the develop- ment is already zoned and serviced, and the business park is ready to develop as a full site, or industrial facilities up to 70 000 m 2 and starting from 10 000 m 2 . Gosforth Park will be secure to support its tenants with high-spec infrastructure as well as a comprehensive framework of services and other quality features. Unsurprisingly, Atterbury has received interest for space at the prime Gosforth Park business address, even before it officially launched the development. own steel roofing products into the new, modern design – creating a functional show- case of its own products and capabilities. CSI began operating from its new prem- ises in January. Binedell says: “This transac- tion and upgrade reflects Growthpoint’s drive to optimise our industrial property portfolio and create better buildings for businesses to thrive and secure their industry footprint.” He adds: “Especially pleasing is that we will have more than a tenant in CSI, they will also be an integral service provider to the broader Growthpoint community.” Growth- point’s industrial team gives a priority to using the services and products of its tenants for the projects they undertake.

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CONSTRUCTION WORLD APRIL 2016