The Estate is a Joint Venture between the eThekwini Municipality and Tongaat Hulett, the first thoughts of which go back to 1994. Now over 150 businesses are established in the area. Today the 300 hectares that make up the unfenced Estate consist of 160 hectares of developed sites and 142 hectare to reclaiming green spaces.
A pristine valley stocked with Hippos, Elephants and Waterbuck descended down the slippery slope of pollution and neglect as ‘civilization’ crept north into what is now Riverhorse Valley. Today some of that environment is being restored as a precondition to the establishment of what has become The Riverhorse Business Estate.
Strategic Planning Services, responsible for a recent report commenting on the green aspects of the Estate, proclaimed that the development is without national parallel.
Trevor Pierce Jones of management company SID Urban Management (PTY)Ltd, reports that 17 000 people are employed across the estate with a permanent workforce estimated at 12 629 of which 4249 are new jobs augmented by a contract work force of over 4400.
The Estate is contributing over R80 million in rates annually, far above previous expectations. 61 per cent of the 90 per cent of companies interviewed in the 2012 socio-economic impact assessment, said they had moved to the estate from elsewhere in the city, 22 percent suggesting they had outgrown their existing premises, 7 per cent are new businesses.
R200 million was spent on establishing and serving the estate, two thirds of which was from eThekwini. The 2012 valuations roll values the properties at and estimated R3.2Billion.
Spin off developments include the upgraded Queen Nandi Drive, the forthcoming rehabilitation of 41 hectares of wetland, a R750 000 indigenous tree planting programme and the addressing of public transport issues.
The bulk of the development consisted of the creation and cutting of developable platforms for the various Erven and careful consideration and survey was conducted to ensure that all sites were above the 1 in 100 year flood plain level.
Infrastructure developments include the construction of 2 new bridges over the N2; the construction of 2 new bridges over the Umhlangane River; the creation of 7 new roads and the diverting of the Umhlangane River.
The Riverhorse Valley Business Estate Management Association now administers an area of 304 hectares comprising: developable industrial, commercial and mixed use activities - 150 hectares; internal road reserves - 13 hectares; Umhlangane river and flood plain - 78 hectares; Huletts Bush - 37 hectares. The above areas exclude the N2 freeway, Rail reserve, Total petro-ports, Queen Nandi Drive and Newlands East Drive.
To quote one example of happy investors, Shree Property Holdings brothers Pavan and Mayur Shree say: “As leaders in Grade A warehousing, we simply couldn’t ignore the opportunity. We bought three prime properties – two in the front of Builders Warehouse and the other next to the Unilever site, we began developing immediately.” One of these sites was snapped up in an adroit sale while the others were subdivided and leased off relatively quickly.
