Tygerberg Business Park
Tygerberg Business Park is a newer industrial area. This modern industrial estate is is an extension to Parow Industria. Peninsula Beverages (Coca Cola) is an example of a large company situated here. This is because they want to be located centrally in the Cape Peninsula. The warehouse in Tygerberg Business Park, has an asking rental of only R 52 per m², including yard area. This offers exceptional value to any tenant looking for a large warehouse close to Cape Town.
The rentable area is 9,365m² which includes an office component of 1,300 m² and a large yard area. In addition to this, this building can be extended by adding 2,000m² to the warehouse. This is a modern building with raised loading, dock levelers and a full sprinkler system. You can view the listing with more photo’s and a video here. Tygerberg Business Park is a popular industrial area which forms part of Cape Town’s Parow Industrial areas, which are close to the Airport and central to Cape Town’s Northern and Southern suburbs.
With the current cost of building and high land values in Cape Town, developers do not find it viable to build new warehouse buildings, unless they can lease them to tenants at R65 per m² (Ex VAT). This is “net rental”, which implies a triple net lease or FRI (fully repairing and insuring) lease. In most cases, these leases stipulate that the tenant pays for all outgoings (including rates and building insurance) and that they maintain the interior and exterior of the building at their own expense. For this reason, a gross rental of R52 is very competitive, given that with operating costs ranging around R 8 per m², this equates to a net rental of R44 per m².