Industrial Property for Sale In 2024
Category Warehouses
Industrial Property for Sale In 2024
Looking for industrial property? Searching for the right investment can be tough. One idea stands out, in South Africa, this sector is showing signs of growth and opportunity.
Recent insights point to a boost in the market by 2024, with an even brighter outlook for 2025. Our article will guide you through the landscape of industrial real estate in South Africa, highlighting why it's a smart choice and where the best opportunities lie.
Ready to learn more? Keep reading!
Key Takeaways
- In 2024, South Africa's industrial property market is growing fast. Places like Gauteng and Cape Town are top areas for warehouses and factories because they are near big roads and airports. This makes it easy for companies to do business.
- The demand for light industrial is rising, more people want smaller, flexible places closer to where they live with lower asking rentals.
- Good deals on renting or leasing warehouses are available in 2024 because there are more modern buildings than businesses needing them. Being close to transport hubs like airports and ports is key for saving time and money in moving goods.
- Cities are reviving old industrial areas with the government's help. This effort includes support for private property and specialized services designed for industrial zones.
- Online shopping has made warehouses even more important since COVID-19 hit, keeping the rental market strong despite challenges.
The Property Landscape in South Africa 2024
In 2024, South Africa's industrial property scene shines bright. Cities grow, and new areas emerge as top spots for buying or renting places like warehouses and offices.
Definition
Think warehouses, factories, and distribution centers - where products are made, stored, or sent out. These properties often sit in industrial parks or nodes close to major roads like highways, making moving goods easier.
Different from office or retail, they're key for businesses involved in manufacturing, logistics, and other commercial activities.
Land use rules play a big part here. They decide what can be built and how land gets used. In South Africa, finding the right land with the correct zoning is crucial for setting up these types of properties because not every site fits industrial needs due to regulations and availability.
Growth in Major South African Cities
Cities like Cape Town and Johannesburg are seeing more people wanting industrial properties. This is because rent for these places has gone up by 20% since 2019. Companies want to be in big cities where a lot is going on.
It offers great benefits for companies, and being close to things like airports and main roads makes them even more appealing.
More businesses moving in means the area will keep growing, making it a wise decision.
Key Areas
South Africa's industrial real estate is growing fast.
- Gauteng remains a prime location for industrial property investment, this area is booming because of its mix of traditional industries and emerging tech companies. It offers easy access to transport routes, making it perfect for businesses looking to expand.
- Properties for sale in Boksburg are getting a lot of attention. With its proximity to OR Tambo International Airport and major highways, this area is ideal for companies involved in manufacturing and logistics.
- Cape Town is on the rise as an industrial node, especially in light industrial properties. The demand here is driven by new businesses seeking modern facilities with good accessibility.
- Anderbolt is notable for its revitalization projects. Investors are transforming old buildings into new workshops and warehouses, making it an exciting place for startups.
- The Eastern Cape's industrial zones are attracting private property investors due to affordable land and potential growth in agri-businesses.
- Near major ports like Durban, investment in logistic centers is growing, it offers easy shipment of goods and materials by sea.
- Industrial property in Cape Town and surrounding areas provides opportunities not just in central locations but also in emerging outskirts with growth potential.
These areas show where the action will be in South Africa's industrial real estate market for 2024. They highlight places with strong growth, strategic positions near transportation hubs, and areas undergoing exciting transformations.
Trends in South Africa's Market
Surge in Light Industrial Property Demand
Many business owners are now looking for smaller, more flexible options, this trend is pushing up the need for light industrial properties. These buildings are perfect for small-scale manufacturing, storage, and distribution activities.
Places like Gauteng and Cape Town have become popular areas and created a big demand for smaller business owners.
This jump in demand means that areas once seen as less desirable are becoming hotspots. Old factories located along the city outskirts are getting new life as light industrial zones.
Business owners find these places attractive because they can easily reach customers and transport links. Plus, with a shortage of modern spots ready to use, those who act fast grab the best opportunities on sites like property24.com or through estate agents active in commercial realty.
Supporting Residential Growth through Industrial Development
They play a big part in making areas grow, especially where people live. By building industrial zones, businesses create jobs and make it easier for folks to work close to home.
This is key in places like Gauteng and Cape Town where more people are moving every year. More jobs mean more people can buy homes, boosting the local housing markets.
Also, these industrial areas often come with upgrades to roads and public transport options. That makes it simpler for everyone to get around - not just those going to work but also families and kids heading to school or the park.
As industries settle in an area, they attract related services like shops and restaurants too. It's all connected - good jobs lead to strong communities which helps the demand for homes rise even further.
COVID-19's Influence on Industrial Real Estate
COVID-19 changed the game in South Africa, as more people shopped online, businesses needed more GLA to store goods. This made warehouses and distribution centers hot spots.
Even with tough times, the market stayed strong. Rentals kept going up, but not too fast.
Now, companies want places near roads and ports more than ever. With COVID-19's push, many see these spots as great chances for investment.
Investment Opportunities in 2024
For 2024, reviving old industrial areas and finding places with good lease deals near major routes or ports will be smart moves for making money in industrial real estate. Keep reading to find out how you can jump on these chances.
Revitalization of Industrial Zones
Old industrial areas are getting a new life. The government has started the Industrial Parks Revitalisation Programme to help these places grow again. This plan is part of a bigger strategy to make regions better for making and selling goods.
Business owners take note, these refreshed zones offer great spots for your company's next home or expansion. With newer facilities and support from local policies, setting up shop in one of these revitalized parks could be a smart move.
Attractive Leasing and Rental Conditions
In 2024, South Africa is seeing better deals for renting and leasing warehouses. This is because there are more modern buildings available than businesses that need them. So, owners of these places want to find renters and will offer good terms.
Owners keep rental prices mild to attract more companies, offering great deals to make it easier for businesses to say yes to moving in or expanding their operations. With lots of options, companies have the power to choose the best space for their needs at a fair price.
This setup helps both businesses get what they need, and owners fill up their empty buildings.
Strategic Location Near Transportation Hubs
Being close to airports, roads, and ports means goods move faster and costs stay low. Here's why you should think about setting up near transportation hubs.
- Close to airports: They let you send and receive products quickly, this can attract many different tenants who need to move goods fast.
- Easy access to major roads: Being near big highways or main streets makes it easier to transport goods. Trucks can come and go without trouble, saving time and money.
- Near ports: If your business deals with importing or exporting goods, being close to a seaport is key. It cuts down on transportation time and costs from the port.
- Special Economic Zones (SEZs): SEZs are areas where business and trade laws are different from the rest of the country, often encompassing vast square meters of land designated for industrial use. They offer benefits like lower taxes or less strict regulations. Many SEZs are placed strategically near borders, ports, or major cities.
- Urban center proximity: Being close to cities means you can reach more customers easily. It also makes it simpler for workers to get to work, which is good for your team.
Each of these points shows how important location is for your success. Pick a spot that gives you easy access to transportation, and watch how it helps your business grow.
Conclusion and Future Outlook on South Africa's Industrial Property Sector
Looking ahead, South Africa's industrial real estate stands as a strong choice for investors in 2024. This demand makes areas near big roads attractive for businesses.
New trends, like online shopping changes, push the need for more warehouses. With limited land and high building costs, these properties could be wise investments. The future looks bright for this part of the real estate market in South Africa.
FAQs
1. What is industrial property in South Africa?
It includes places like factories, manufacturing facilities, and warehouses.
2. Can I find a place to buy for my business in Gauteng or Cape Town?
Yes, you can! There are many industrial properties for sale in Gauteng and Cape Town areas. Whether you need a small workshop or a big warehouse, there's something for everyone. Industrial property rentals in Cape Town have seen a big turnaround in the past 5 years.
3. Are there different kinds of properties available?
Yes, from freestanding buildings to large ones suited for cargo handling to commercial property, - the choices are vast.
4. Is it possible to get a good deal on these properties?
Absolutely! Besides regular sales, sometimes repossessed properties become available which might be more budget-friendly.
5. How do I know if the information about the property is right?
We at Currie Group work hard to ensure all details listed correctly - from the location along popular routes, conveniently located like N12 or R21 to facility sizes - are accurate and up to date... but remember, it's always good to check things yourself too.
6. Will someone help me with finding the right spot?
Yes - whether it's your first time buying or if you're looking to invest again, we at Currie Group are ready to guide you through every step of finding your ideal premises.
Author: Currie Group