select
|

Commercial and Industrial property in high demand - Midvaal

As a key link between Pretoria, Greater Johannesburg, the Vaal Triangle, the Free State, and all other major routes leading to all major cities in the country, Midvaal is endorsed and promoted by local government as the future spatial economic development initiative to invest in.

Situated alongside the R59, the area is said to display potential for growth similar to Midrand due to its natural prime location, availability of water and coal, and high volumes of passing trade. Hence, the area is home to various well-known industrial facilities, including Heineken Breweries, BSI Steel, Tongaat Hulett Starch and Samancor, to mention but a few.

Commercial space to rent

?Click here to view commercial spaces to rent in the area




The uptake of manufacturing, workshop, trading and office space in commercial parks such as Midvaal Commercial Park situated at the Johan le Roux bridge on route from Johannesburg to Meyerton and Vereeniging is indicative of the area’s current appetite for future economic growth. The first phase of Midvaal Commercial Park saw a record uptake of tenants from November 2011 until March this year, indicating that commercial space, especially those with ample power and electricity supply, is high in demand.

While Midvaal Commercial Park property owner and developer, Louis Taljaard, attributes the strong uptake of commercial space to the high visibility of the Park alongside the R59 and the fact that it has ample power supply, Taljaard says that tenants also like the tailor-made commercial space package deals where tenants can choose any one of, or a combination of the following e.g. workshop, trading, manufacturing, showroom, storeroom, and yard space etc.

Currently, prices for commercial space for rent in the area typically range from R30 – R38.50 per m2 for office; R20 – R28.50 per m2 for workshop; R35 – R75 per m2 (depending on exposure and visibility) for showroom; and R6.50 -  R8.50 for yard space.

Next to power supply; location fuels demand for industrial properties for sale

With an average of two to five industrial property sales requests per day in the Midvaal area alone, Taljaard says investors are competing to buy properties with ample power supply given the high cost associated with installing power and the shortage thereof currently experienced in the country. “In most cases, when having to install power, the cost of relocating your business to an industrial site with ample power, is less than having to install power at a new development. Therefore, many industrial and commercial businesses are relocating or buying into existing serviced industrial sites in Midvaal at the moment,” he says.

One of the investment opportunities currently available in the Midvaal industrial development area with ample power and water supply, parking, security and yard space includes 7 500m2 of land, with 3 200m2 of improvements, consisting of workshop and office space, which is easily accessible from all major routes to and from Midvaal.

Investors can expect to pay from R11.5 million upwards for this property which has an existing tenant. “The fact that the industrial properties and surrounds are well serviced and maintained by the Sedibeng District Municipality, which is committed to fuelling economic growth in Midvaal area, is an added benefit,” concludes Taljaard.




  Comment on this Article

  

Post to my facebook wall
  
2000
Characters remaining


  • Vennie Govender - posted 09 May 2012 12:01 PM                                    

    I have a vested interest in this particular area, "R59 Corridor", so every bit of information is crucial/interesting.
    "said to display potential for growth similar to Midrand ".
    To some of my buddy's out there, just a shout out, I told you so!!

Latest Property News
  • 16 Feb 2018
    Whether you own a property in a sectional title complex or are looking to invest in one, the financial standing of the body corporate is the single most important thing that can affect your investment or your buying decision.
  • 15 Feb 2018
    One positive consequence of the financial crash in 2008 was the rise in consumerism, especially in the property market, where buyers have steadily become more knowledgeable and more value conscious.
  • 15 Feb 2018
    While most homeowners will take the agent’s commission into consideration when they are trying to determine what the will get out from the sale of their property, many often forget to factor in the other costs involved in a home sale, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
  • 14 Feb 2018
    The forecast for the national rental market in 2018 remains a mixed bag of good news and bad news. Although rentals are expected to rise slowly as the challenges of home affordability and tighter lending criteria tighten their grip, it’s a double-edged sword as the market also will come under increasing pressure from factors like declining disposable income levels.
  • 14 Feb 2018
    While you may not have intended to place your home on the market, what do you do if you receive an unexpected offer on your home? In areas where demand outweighs the current supply of homes available to buyers, it is not unheard of to have buyers make offers on homes that aren’t on the market, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
  • 14 Feb 2018
    If you are looking to sell your home this year, Debbie Justus-Ferns, divisional manager of Renprop Residential Sales, says that there are five crucial things to do before the ‘for sale’ sign goes up.
  • 01 Feb 2018
    February is the month of love and to celebrate we will be posting about all the things we love this month. Follow the #MyPropertyLoves hashtag to keep up with our favourite things.
  • 01 Feb 2018
    After saving up and months of searching for the right home, applying for a bond and patiently waiting for the keys to the front door, it is finally time to cross the threshold and move into your new home. Now what?
    
X
Subscribe to the MyProperty Newsletter

Name  
Last Name  
Email Address  
Email Frequency
select
X
Share this Page

   
For Sale Property
Rental Property
More Options
About
Connect with us
FEEDBACK