New tenant for Lanseria Corporate Estate

BrandMapp's Stuart Lowe passes away, industry pays tribute

Danette Breitenbach

The 90-hectare Lanseria Corporate Estate, situated next to Lanseria International Airport in one of Johannesburg's high-growth nodes, announced this week that its first land transfers have taken place, including Freeworld Coatings taking ownership of approximately 18 000m² of land to develop offices and a dedicated trade/design centre.

"There's been much hype about future growth in the wider Lanseria node," says Jurgen Erhart of developer Efcon Capital (Pty) Ltd. "The success of Lanseria Corporate Estate is proof of this growing demand."

Efcon, together with partner New Property Ventures, has invested R100 million in basic infrastructure with more to follow and anticipates the investment in the estate to rise by R2 billion over the next seven years.

Economic catalyst for commercial nodes

Property economist Francois Viruly points out that with 10 million additional people forecast to move into the Gauteng City Region in the next 30 years, there are strong indications that significant commercial nodes will develop in and around Mogale City.

"I am of the view that Lanseria will increasingly develop as the second airport of the region, and will provide a catalyst for both new commercial and residential development," he says. "In due course, it would not surprise me that Lanseria will be connected with other nodes in Gauteng through an improved regional transport system."

Erhart points out that the estate is already acting as an economic catalyst for the area. "The construction phase will create 19 000 jobs, and an additional 11 000 direct and indirect permanent jobs are estimated to be created once the estate is complete."