Cato Ridge - Continuing to gain Momentum
Category Upper Highway General
Cato Ridge - Continuing to Gain Momentum
Plans for further large developments in and around Cato Ridge continue to gain momentum despite the recent unrest.
The recent unrest, which included some looting in the Cato Ridge area, has had an impact on investor confidence in the area with a few potential projects being postponed and possibly even canceled, but others are still seeing the advantages that the area presents.
The reality is that the looting was no worse than in other areas and that none of the buildings in Cato Ridge were burnt or damaged beyond repair and that the fundamental advantages of the area remain.
Recent media reports in Fin24 confirm that Transnet "is looking to potentially work with private companies for the expansion of the Durban port to the tune of R100 billion by 2023" and are issuing a Request for Information to gauge interest.
The establishment of the National Ports Authority is in process and the ports masterplan is under development.
Any rational masterplan for the Port clearly needs to incorporate the area of Cato Ridge for the Intermodal Hub / Dry Port and truck staging, and plans for such are still moving forward, in order to assist with decongestion around the port.
A number of large corporates have already established Distribution Centre's in the area in recognition of the advantages to the logistics chain from being close to the Intermodal Hub, with easy access to the N3 and in close proximity to the rest of Durban and the port.
Trucking companies have also established staging and refueling facilities in Hammarsdale and Cato Ridge for similar reasons.
Smaller companies and entrepreneurs are seeing the benefits of the area and most of the smaller sites and rental units in the area have been sold or leased.
The area continues to offer the great value, level, zoned industrial land. With prices from as low as R350/m2 to the more exclusive options around R1650/m2, it is hard to beat. Rental options are also still available at prices that are more affordable than most other areas around Durban and options from vacant land to state of the art distribution centre are available.
The area also offers the advantage of purchasing power directly from Eskom offering substantial financial advantages to manufacturers.
Author: Robert McInerney
