Montague Gardens industrial Rentals - Richmond Park

Montague Gardens industrial Rentals – Richmond Park. This precinct (suburb) is in the process of development into a mixed-use commercial precinct. Upon completion, it will have about 300,000m² of gross lettable area. Mainly for industrial usage. The 99-year lease will enable a lower overhead structure.

Location – The site is located between Tygerberg Valley Road, Plattekloof Road (the M14) and the N7 Freeway. The site is in proximity to the N7 off-ramp.

Access – Two major arterial routes, the N7 and the M14 (Plattekloof Road) service Richmond Park. Easy access to the N1 highway, Cape Town Port, the Cape Town CBD and the Cape Town International Airport.

There will be a range of different properties for Rent:

1. Approximately 2,500m² warehouse

FINANCIAL
A monthly net rental as at 1 March 2018 of R70.00/m² (Excl. VAT) will be payable and will escalate at 8% per annum.
The above rentals exclude rates, taxes, levies and consumption charges, for which the Tenant will be liable.
TENANT FIT-OUT ALLOWANCE
The building specification for building allows for a tenant fit out of R650.00/m² per GLA offices.
TRIPLE NET LEASE
The Tenant shall be responsible for the full repairing, maintaining and insuring of the lease premises.

2. Approximately 8,500m² warehouse

The site that will accommodate the Spec Warehouse and Offices measures approximately 14 258m².

The rentable areas and parking provision of the Spec Warehouse and Of Offices will be as follows:

Warehouse                            =          7,340m²
Warehouse Mezzanine        =          378m²
Offices                                    =          838m²
Parking Bays                          =          85 bays

FINANCIAL
A monthly net rental as at 1 March 2018 of R65.00/m² (Excl. VAT) will be payable and will escalate at 8% per annum.
The above rentals exclude rates, taxes, levies and consumption charges, for which the Tenant will be liable.
TENANT FIT-OUT ALLOWANCE
The building specification for building allows for a tenant fit out of R650.00/m² per GLA offices (838m²).
TRIPLE NET LEASE
The Tenant shall be responsible for the full repairing, maintaining and insuring of the lease premises.

Location and Features of Richmond Park

Cape Town’s efficient MyCiTi rapid transit system, which runs along Tygerberg Valley Road, services Richmond Park.
Richmond Park has the following unique offering to its future occupants:
–   Proximity to Cape Town International Airport, Cape Town Port & Cape Town CBD
–   Access to residential estates that caters for various price categories, such as Burgundy Estate
–   Public transport – taxi, bus (MyCiTi)
–   Proximity to Cape Town International Convention Centre
–   Proximity to Century City
–   Secure mixed-use precincts
–   Wide internal roads and well landscaped green open spaces

Availability of Services – All essential services and connections will be available to the site boundary upon lease commencement. Eskom is providing the power supply to Richmond Park. The direct Eskom supply results in savings in consumption charges if compared to other utility suppliers (i.e. City of Cape Town) in the Western Cape.

Open Access Fibre Network – Richmond Park has secured a single fibre optic open-access- network for data. This means that the Spec Warehouse will have an un-equivalent open access fibre network at market-related rates.

Park Levy – All occupants within Richmond Park will become part of the Property Association (Non-Profit Company) that is governed by a set of predetermined rules, memo’s and articles. The Association is responsible for cleaning, landscaping, routine maintenance, etc. of the common areas. The anticipated park levy for 2017 is estimated at ±R0,90 (excl Vat) per m2 site area. This levy excludes any municipal charges and/or levies such as assessment rates, utility services, consumptions, etc. which will be a direct tenant cost.

Deals already signed at Richmond Park. Agreements have been concluded. Mustek Limited, CTM and Cape Fruit Coolers have already signed agreements. Various other transactions are currently under negotiation.