Redefine to launch industrial estate
Industrial property has been a strong performing subsector of listed property
Redefine Properties, a diversified real estate investment trust, will soon launch the S&J industrial estate in Germiston, as it aims to invest further into high-tech industrial real estate rather than smoke-stack factories. Industrial property has been a strong performing subsector of listed property. It was the top performer in 2016, with a 13.6% return, outperforming traditional frontrunner retail at 12.6%, according to the IPD South African Annual Property index. The prime S&J site is 90% owned by Redefine Properties and 10% is owned by developer Abland. Redefine has committed R154m for the bulk infrastructure so far. The estate, which was once part of larger Simmer & Jack-owned mines, covers more than 163ha of developable land along the N3. "Forming part of the greater bulk services project, construction on the two main roads within the estate has started. Once completed these roads will unlock 118ha of developable land, of which about 60% will be available for disposal to end u...