Stands for sale in the first phase of the development of Lanseria Corporate Estate, the modern eco-sensitive commercial estate that flanks Lanseria International Airport, have almost sold out.
Prime land in the estate totalling 240 000m2 has been sold and only seven of the initial 47 stands in the first phase are still available for sale.
Of the land already sold, 127 000m2 of land for warehousing, factory and office space has been completed or is under construction at the commercial estate.
The 90-hectare estate was being developed by a joint venture including Efcon Capital and New Property Ventures and marketed by Montagu Property Group and Property Logic.
Purchase options in the estate ranged from stands to complete turnkey packages and when fully developed, the entire estate would comprise 150 stands.
The installations of services started in January 2008 prior to the global financial crisis and subsequent recession. The developers have invested hundreds of millions of rand in infrastructure in the estate and investment was expected to increase by R2 billion by 2017.
Situated in Johannesburg’s rapidly growing north-western region, the estate is located on Malibongwe Drive.
Property economist Francois Viruly in 2010 said 10 million additional people were forecast to move into the Gauteng city region in the next 30 years and there were indications that significant commercial nodes would develop in and around Mogale City.
“I am of the view that Lanseria will increasingly develop as the second airport of the region and will provide a catalyst for both new commercial and residential development,” he said.
“In due course, it would not surprise me if Lanseria was connected with other nodes in Gauteng through an improved regional transport system.”
The estate is an environmentally friendly and eco-sensitive development with strong evolution controls. It features a green park-like design and extensive indigenous landscaping. It also uses recycled water for irrigation and the flushing of toilets.
Cash Converters is one of the leading businesses to have chosen the estate as a strategic business base, with the group locating its Gauteng head office and main distribution centre in a tailor-made development.
Freeworld Coatings, the manufacturer and marketer of decorative paints and performance coating, previously reported that the company would develop offices and a dedicated trade and design centre within the estate.
Several other large private sector developments in the estate include new warehousing and distribution facilities.
The increased interest in the estate has been attributed to its ability to offer flexible built-to-purpose development in a good location with ample power supplied directly by Eskom and easy toll-free road access via the N14 Krugersdorp highway.