One of the major attractions at the In2Assets multi-property auction at the Durban Country Club on July 24 at 11am will be the sale of a sprawling business property, Illovo Business Park, on the corner of Old Main and Dipping Tank roads in Illovo - an area adjacent to the new multibillion-rand Dube Tradeport industrial development.
Virend Deonarain, who is handling the sale for In2Assets, says the property originally housed the old Illovo Sugar headquarters and has now been developed to accommodate Illovo Business Park, forming part of the greater Lower Illovo area.
The site - between the N2 and the Illovo River - is about 2.5km inland of the South Coast town of Winklespruit, and 31km south of the Durban CBD.
“The properties in the park are near rectangular to irregular in shape, sloping at a gentle gradient.
“As Illovo Business Park has two road frontages - on to Old Main Road and Dipping Tank Road - it is exposed to high levels of passing pedestrian and vehicular traffic.
“The immediate area consists of a mix of service industrial, light industrial and low-key commercial properties, as well as sugar cane farms,” Deonarain says.
“However, of strong importance to investors interested in owning Illovo Business Park is the fact that the site is surrounded by Dube Tradeport Company land earmarked for an R11.5billion industrial park for the automotive supplier industry, scheduled to be operational by 2022.”
About 1000 hectares on the banks of the Illovo River has been bought by the government for the new motor vehicle-producing hub expected to attract major companies such as Toyota, MAN and Volvo.
For more details about the sale of Illovo Business Park and viewing arrangements, call Deonarain at 071 383 1735 or 031 574 7600 or email [email protected].