Office Space Umgeni Deco & Lifestyle Park, Umgeni Business Park- Durban

Warehouse development Opportunity to let in Springfield

0 |

This is a Brand new development that offers multiple options of premium warehouses or offices to rent in Springfield. This premium development is aptly named Umgeni Deco and Lifestyle Park and is located just below the Umgeni river in Springfield Park, Durban. All sites are SPEC buildings and are long term leases. This site offers 13.6 hectares of development potential where the sites are tailored to suit the user's requirements. The park has beautiful indigenous gardens that are being planted with developers offering 24-hour onsite security. Premium sites are on offer with developers custom building to your requirements. This lifestyle park will offer high-end finishes to premium businesses and service providers. The park is conveniently located near the M19, M21 and has access points to N2 and N3. It is set to be the newest and best addition to the Umgeni and Springfield business hubs and currently has premium showrooms such as Zebbie Lights and CTM already in occupation. How to get started; Tenant expression of Interest, tenant board approval of commercial terms, conclude lease agreement with development conditions (subject to PRASA / Intersite approval), business case approval, finance secured on terms suitable to the landlord, legal agreements signed, submit top structure building plans, handover of the site to the main contractor, commence construction, beneficial occupation to Tenant, practical completion and lease commencement.

We are looking for destination retail tenants in the Deco & Lifestyle space but would consider complimentary tenants with an element of retail. The concept is to provide upmarket look & feel turnkey developments with site sizes to suit the tenant. We are targeting on standalone destination retail boxes with a size of over 1,500m2.

Commercial terms would likely be along the lines of the following;

Duration of Lease – 10 years (could potentially do longer for strong brands),
triple net rental – from approx. R120/m² NNN (Varies greatly depending on the efficiency of space & TI), utilities are for tenant’s account, the finishes are generally white box (with no TI provided, but can add TI if necessary)