Ballito’s first major business services park launched
Seen on site at the launch of Ballito Services Park North are from left: Bruce Mungal (of ComProp), developers Christo Engelbrecht and Justin Rosewarne (JR Property Group), Shani Dickson (ComProp), Jenna Venter (ComProp), Greg Kruger (Greg Kruger Properti
Ballito Services Park launches in the face of research showing that investment properties in Ballito are yielding higher returns.
Ballito’s first major business services park promises to reposition the North Coast as a serious industrial property contender in the face of good local investment yields and a dearth of zoned and serviced land for sale north of Durban and around King Shaka Airport.
The launch of Ballito Services Park North this week brings on stream 9 light industrial zoned serviced platforms totalling 18.5 hectares offering multi-use options from warehousing and factories to show-rooms, offices and mini units.
It follows the release of research conducted by ComProp, a leading local property management group, showing that a wide sample range of tenanted investment properties in Ballito are yielding an average of 5.95% first year income return, as opposed to IPD’s reported 4.3% across all sections nationally for 2011.
Furthermore, in terms of capital return, property values in the area were not seriously affected by the recession and vacant land prices have steadily increased.
In addition to performance indicators, John Hatfield, one of the owners and a developer at Ballito Services Park North, commented on the good timing of the launch given the dim prospects of service delivery limitations and new land coming on-stream at affordable rates in the near future.
The fact that there are only 112 serviced sites available between Ballito Business Park, Ballito Services Park and Imbonini means proclaimed northern business land will soon be hard to obtain.
Ballito Services Park is also competitively priced with land being marketed from R700 to R1200 per m². Comparative sites in the Umhlanga, Mt Edgecomb and Riverhorse Valley nodes sell for R1500 to R3000 per m² with variations depending on the location of land.
Ballito Services Park offers flexibility in terms of a wide range of options such as land to buy, ready-built facilities, build-to-spec, sectional title schemes and turnkey developments.
Its multi-use facilities cater for a cross section of commercial and industrial needs from 100 m² to 20 000 m² for distribution, warehousing, workshops, factory outlets, offices, wholesalers, show-rooms and mini commercial units.
It also marks the start of a clear delineation in this fast-growing town between the existing Ballito Business Park – which was built to cater for office and retail use – and light industrial premises.
The N2 creates a natural boundary between the two areas, with light industrial on the western side of the freeway and retail on the east. “The parks situation adjacent to the freeway allows easy access from the new interchange, as well as high visibility and valuable national road advertising opportunities”, adds Hatfield.
Other infrastructural benefits include its proximity to the airport, to the heart of the Ballito retail district, adjacent access to the Compensation railway station as well as ease of access to managerial staff and a labour force in the nearby residential areas.
Trenley Tilbrook, CEO of the iLembe Chamber of Commerce Industry & Tourism welcomes the launch of the park and believes it is another string in the bow of the “Hot Ballito” lifestyle and all it offers.
