Montague Park welcomes high profile Tenants
Category Development
Montague Park welcomes high profile Tenants Improvon, an industrial and commercial property investment company, is proud to welcome prominent, multinational tenants to its flagship development, Montague Park. The tenants include Aggreko, a world leader in temporary power generation solutions for industrial applications. The company is renting a 1 465m² space, to be used as a warehouse storage facility for generators, as of January this year. ColorMatrix, meanwhile, became a Montague Park tenant in March. ColorMatrix is a subsidiary of PolyOne Corporation, a company which specialises in the production of ink to be used on polyethylene and plastic in the beverage industry. The SuperGroup has signed on for a 6 075m² space, to be used for the storage and distribution of various consumables; a lease which came into effect in August. Finally, AEG – part of Electrolux AB, the world’s largest domestic appliance group – has invested in a 3 400m² manufacturing space, which will be used for the construction of utility-scale solar inverters and skytron boxes for monitoring and control products. The factory has capacity to produce 200MW annually. AEG joined Montague Park in March. Improvon Marketing Manager Grant Lewington is proud of the calibre of these clients. While SuperGroup is a major JSE-listed company which plays an integral role in the South African economy by providing warehousing and distribution, the other tenants are all renowned multinational companies. “They are all blue chip clients, which give Montague Park an excellent profile.” This is certain to help the park attract other tenants of a similar quality. The mixed use development, located on the northern border of Montague Gardens – Cape Town’s premier industrial node – is composed of a 215 000m ² Retail precinct as well as a 287 000m² secure Industrial Park featuring high-tech industrial facilities. Montague Park’s many attributes include a greater focus on safety, as well as accessibility. This is a major plus for clients such as AEG, which will benefit from features like extra turning space for trucks in factory yards, while facilities have been built at dock height in order to ensure that trucks are easily offloaded as well as to facilitate storage – all resulting in cost savings for tenants. Traffic flow within the park is eased by the existence of double lane boulevards, while the roads outside the development have been upgraded to ensure sound access. “We are very pleased that our newest clients will be contributing significantly to the South African economy. Most are players in the manufacturing sector and, since this is a market which is currently depressed, we believe it is very heartening that there is still confidence in local players. We also find that the mix of clients is a strong one, with many of our tenants supporting vibrant market sectors,” Lewington concludes.
Author: SA Commercial Property
