With exceptional highway visibility from the N1 highway, the new Hyundai showroom and service centre which has been created by Growthpoint to the motor company’s requirements, is set to become the standard specification for its future showrooms.
Commercial City is located off Malibongwe Drive and is home to a number of retail warehouse tenants over three levels, with a prominence of motor related retailers and wholesalers complemented by home improvement and construction related businesses and other light industrial users.
The ability to create a tailor-made motor showroom, combined with an exceptional location and excellent access for its customers, were all key to Hyundai’s decision to conclude this deal for some 5,000sqm of prime motor showroom space.
“Hyundai’s tenancy is a positive addition to Commercial City and for the area as a whole,” says Keri Page of Growthpoint Properties Industrial. She explains that industrial leasing activity in the area is experiencing improved levels of positive interest and increased take-up.
In addition to Commercial City, Growthpoint Properties owns a further three industrial properties in the Ferndale and Strijdom Park area. One, a storage facility, is fully let and enjoys a waiting list of potential clients. “There is a massive demand for storage in the area. While there is still an availability of light industrial space, interest is also increasing in this sub-sector,” says Page.
“Our investment in Commercial City is in line with Growthpoint Properties objective to provide industrial accommodation to a wide variety of tenants, including manufacturing, warehousing and logistics, showroom and motor-related users,” explains Engelbert Binedell, Growthpoint Properties Industrial Fund Director.
“Industrial users are extremely entrepreneurial and have very specific requirements for their facilities. Working together to create an industrial premises which functions well for both the property owner and the client is essential, and we are confident that this has been achieved in the case of the remarkable new Hyundai showroom at Commercial City,” says Binedell.
