Cato Ridge – SA Property Developments after the World Cup
DEVELOPMENTS AFTER THE WORDLCUP - CATO RIDGE?
After the successful completion of projects building up to the World Cup, the focus of the eThekwini Municipality and its development partners must shift to new strategic developments. According to Rob McInerney of Share-List Property who attended a recent presentation by eThekwini Municipal Manager Dr Mike Sutcliffe, proposed new developments include a transport corridor from the proposed dugout port, linking it to a new transition node in Cato Ridge. Whilst some of these plans are still in the assessment stage it is clear that Cato Ridge and the neighbouring areas such as Hammarsdale feature high on the agenda of local and provincial development plans.
A number of new industrial sites are already being developed in Cato Ridge with SAFAL STEEL’s plant probably being the most notable. Others have recently been sold with further new developments planned but there are still great opportunities available. Cato Ridge has vast tracts of flat land already zoned Industrial & others with good potential for rezoning particularly in light of the municipal plans for the area.
It has very good access to the N3 from both Durban & Pietermaritzburg.
Cato Ridge probably offers the best value for money industrial land in the Greater Durban Area with prices from R200/m 2 and level serviced platforms available from R350/m2.
With sites from about 7,000m2 to 500,000m2 there are opportunities available to suit most requirements, from large developers to single end users.
The supply of Electricity and Sewer services to some sites, currently pose certain challenges but innovative developers, together with the relevant authorities seem to find solutions.
Hammarsdale is situated adjacent to Cato Ridge, approximately midway between Durban and Pietermaritzburg also with good access to the N3. The area was initially established as a Textile node and has good infrastructure. Sewer and electricity services are more readily available and there is an abundant pool of semi skilled labour. A new Shopping Centre is currently under construction and a number of the old textile factories are being redeveloped to suit tenant or end user requirements.
Hammarsdale offers exceptional value for money in terms of industrial rentals with rentals from R20/m2 and sizes available from 600 up to about 250 000m2. There are also a few vacant industrial buildings available at prices from R2000/m2 – Way below replacement value! Vacant Industrial Land prices are similar to Cato Ridge and there are also many options available.
Rob McInerney of Share-List Property is passionate about developments in these areas and would welcome enquiries from developers, end users, fellow brokers or anyone else interested in the area. Share-List Property has been successful in selling and leasing many properties in these areas, frequently in collaboration with other brokers and believes that ‘sharing’ moves properties faster.
Courtesy: Rob McInerney
For regional sales and lettings enquiries please contact:
Tel: +27 (72) 019 6192
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