Cornubia is centrally located in a strategic position just 15km from the King Shaka International Airport, less than 5km from Umhlanga’s Town Centre and Gateway precincts and conveniently accessible from the N2 freeway.
Some of the largest available development land remaining in Cornubia Industrial Estate – a new precinct between Ballito and Umhlanga in KwaZulu-Natal – has been released to the market. Just under 25 000m² of the total 10 hectares of this development land has already been sold off, demonstrating the high demand for industrial property located in close proximity to the relocated Durban airport.
According to Elias Tzouvanni, Director of Nexus Property Group, the boutique property brokerage which has brought this land to market, industrial property and land in close proximity to local transportation hubs are in extremely high demand, and this is the first time in many years that land of this size has become available so close to an international airport.
“Prime industrial development land such as this is extremely limited and very hard to come by. We are presented with a very unique opportunity in KwaZulu-Natal as airports are hardly ever relocated, which is exactly what happened to the international airport in Durban a few years ago. Vacant and available industrial property and land around South Africa’s international airports is extremely scarce, and we therefore expect demand to grow in the future”.
“As a result of the demand for optimally located industrial space which is in close proximity to the largest port in Africa, rental costs for tenants are steadily increasing and attracting attention of end users, private and listed property investors.”
He says that Cornubia is centrally located in a strategic position just 15km from the King Shaka International Airport, less than 5km from Umhlanga’s Town Centre and Gateway precincts and conveniently accessible from the N2 freeway. “The property is situated in a high growth node due to the relocation of the airport and subsequent surrounding commercial, industrial and retail developments in the Cornubia precinct.
Tzouvanni adds that industrial land in the Cornubia area has attracted investment from several national listed and private companies.
“As the Durban business district slowly shifts from the CBD towards the Umhlanga Ridge and Balito area, so has the need for vacant commercial and industrial land. “With Durban being the largest port into Africa and serving as a gateway to the continent, investment in the area will only increase, highlighting the value of this industrial land.”
He says that the district also offers safety and security, traffic accessibility, environmental sustainability, attractive landscaped public spaces and close proximity to labour opportunities north of Durban. Smaller portions of the development are available as per the proposed subdivision and can be bought separately. The remaining four erven range from 13 500m² to 30 000m², or larger if left consolidated.