George to get a R400 million industrial site

Western Cape focused Spear REIT has recently launched a R400 million light industrial property development in George called GTX Park.

Located within the Airport Business Park Precinct, the site will span over nine sites, measure 30 000m2 and be developed over five years with the bulk of phase I beginning in October 2023.

Spear's CEO Quintin Rossi said "We are very pleased to launch GTX Park and bring this exciting development to the city of George. This expansion aligns with our commitment to creating innovative and sustainable spaces and efficient operating solutions for businesses to thrive, as the entire Western Cape remains a viable investment opportunity for us."

Rossi highlighted the strategic location, saying that George is fast becoming the mid-way point between the Eastern and Western Cape, which makes it highly accessible and attractive for Agri-logistics, oil and gas, logistics, residential developments, commercial ventures and call centres. "The recent signing of a lease agreement for a 3000m2 call centre further demonstrates the growing interest and potential in the area." adds Rossi.

The development will be thoughtfully crafted for light industrial spaces tailored for warehousing, cold storage, distribution and other ancillary industrial activities. Warehouses will span in size from 300m2-10 000m2 and have varying heights from 10.5m-15m and spacious yard areas.

with Spear's commitment to sustainable development, PV solar infrastructure and water augmentation solutions will be included in the development framework.

Rossi emphasized the positive environment for business growth, remarking "George benefits from a well managed, municipal environment which has fostered real estate investment in infrastructure and development projects. A new state of the art medical facility by Mediclinic, which is expected to be completed within two years further illustrates local government's commitment to investing in the overall development of the region and this commitment to progress makes it and attractive place for investors to establish and expand their business'."

Author: Kirsten Chalice (Marder Properties)