[Cape Town, Monday 10th January 2005] In one of the larger land acquisition deals in the Western Cape in recent times, RMB Properties has managed to negotiate the sale of a prime piece of industrial land in Parow Industria.
The site, in excess of 49 000m² at the Tygerberg Business Park has been acquired for Railit Total Transportation (RTT) (Pty) Ltd
– a division of the Fuel Logistics Group – as a result of an identified need for new warehousing and distribution facilities for their SOS, LG and HRP business units which are to be located in Cape Town. The transaction would incorporate an under-roof development in excess of 15 000m².According to Andrew Kendall, head of RMB Property’s Leasing and Investment Brokering division, "the site acquired has many advantages including excellent exposure, convenient access and egress from Modderdam Road and also to major road, rail, harbour and airport facilities.
"Retail Property Projects will be responsible for the relevant bulk earthworks and transfer of the land is anticipated in the third quarter of 2005" Kendall said.
RMB Properties enjoys a significant profile in Cape Town’s Central Business District and with this substantial deal for RTT, have established for themselves, a prominent footprint in the competitive and lucrative Tygerberg property market.
Says RTT Regional Manager, Mark Thompson, "We are proud to be part of this new business development within the Western Cape, and to be in partnership with RMB, which is one of our major shareholders.
"The development came as a result of our phenomenal growth in the last three to five years, and will offer our customers a state-of-the-art warehouse facility and logistics integration", he said.
ENDS
For further information contact
Andrew Kendall of RMB Properties on 021-410 1160 or 083 303 3581 Enid Vickers from Corporate Image on 021-426 1233 or 083 460 3910.
Publisher: RMB Properties
Source: RMB Properties
