According to Elias Tzouvanni, director of Nexus Property Group, there is a limited amount of suitable industrial space currently available for development in the traditional industrial nodes. New areas, such as Cornubia Industrial Estate, situated between Ballito and Umhlanga in KwaZulu-Natal, are becoming increasingly popular with tenants and end users.
"Some of the largest available development land remaining in Cornubia was recently released to the market, with almost 25,000m² of the total ten hectares of this development land already sold off. This demonstrates the high demand for industrial property situated in close proximity to the relocated Durban airport."
Demand will continue
"Vacant and available industrial property and land around South Africa's international airports is tremendously scarce, and it is expected that the demand will continue. Smaller portions of the development are available as per the proposed subdivision and can be bought separately. The remaining erven range in size, from 7,000m² to 18,000m², and can span up to 55,000m² if left consolidated," he says.
"Existing and potential growth in Cornubia will serve as a driver of economic expansion and job creation for generations to come. With Durban being the major port into Africa serving as a gateway to the continent, investment in the area will only increase."
"The district also offers safety and security, traffic accessibility, environmental sustainability, attractive landscaped public spaces and close proximity to labour opportunities north of Durban; all of which highlight the value of this industrial land," he concludes.
