Property development and marketing company, Abacus DIVISIONS, has announced that the developers of the R500 million industrial estate, Rietvlei Industrial Estate in Irene, Pretoria, have given the go-ahead to proceed with the signing of sales agreements – as well as giving professionals involved on the project instructions to finalise the process.
Org Geldenhuys, MD of Abacus DIVISIONS, said: “As reported in February, all stands have effectively been sold out in Rietvlei Industrial Estate – and we currently have a long waiting list of potential purchasers who would be interested in any of the stands that come back on the market. We will start with signing purchase agreements over the next while and should any potential purchaser not wish to proceed with the sale, the stand will be put to the list of purchasers on the waiting list. This already is a good sign about the robustness of demand for industrial stands in this area,” he said.
The estate spans more than 123 000 square metres, with the value of stands purchased notching up R105 million in sales.
Once building is completed the total value of Rietvlei Industrial Estate will be R500million.