In2assets will at its next multi-property auction on April 15 - to be held online - offer about 59 hectares of prime N3-facing development land. The site allows for a large mixed-use development servicing the logistics, trucking and freight industries and holds Development Facilitation Act (DFA) approval for site development and zoning status.
Luke Hearn, of in2assets, says the property, Mpushini Business Park near Pietermaritzburg, is on the Durban-Pietermaritzburg N3 corridor, said to be the second busiest highway in the country, second only to the N1 in Gauteng.
“Areas of focus along the route are the Mpumalanga/Hammarsdale area, Cato Ridge and the Camperdown and Umlaas Road areas. Several major developments are proposed in these areas. There are also plans for an inland dry port in the area, so demand for property here is soaring. Afroprop has proposed developments in both the Cato Ridge and Umlaas Road areas, as well as the Lynnfield Park area.
“The extent of the demand for warehousing and factories from large national chain stores, supermarkets and furniture, steel and manufacturers from India and China is also growing rapidly.”
KZN industrial land has now become expensive - up to R2000 a square metre.
“There are almost no large sites available for development in the traditional areas accessible to the harbour and, with plans for extensive expansion of the harbour, there will be even more clamour for industrial land in future.”
Hearn says the Mpushini Business Park is 70km from Durban and 15km from Pietermaritzburg. It is bounded to the north by the N3 with the residential area of Lynnfield Park to the south on the opposite side of the R103, and residential Ashburton to the west.
For more details about the auction, and online bidding procedure and facilities, phone Hearn at 071 351 8138 or email lukeh@in2assets.com or visit www.in2assets.com.