Montague Gardens is a special rated area
Category Industrial Property News
In the middle of last year, four locations within the greater area of Cape Town were awarded as Special Rating Areas and one of these areas was Macaroni Beam in Montague Gardens. This area which is not far from the Cape Town central business district or the Cape Town international airport is deemed pivotal for so many reasons and this has led to many wanting to invest in the area.
“The establishment of this area (Marcroni Beam) as an SRA is the preferred way to enhance the strategic importance of Montague Gardens, which is located close to transport routes and has the potential to attract and keep investment as well as provide employment to the local and surrounding residential areas. Montague Gardens is also the gateway to the rapid urban and economic growth of the West Coast” - Johan van der Merwe, Mayco member for finance.
How SRA works and helps raise the status of areas:
SRA’s (Special Rated Areas) used to be known as a City Improvement District. How these areas work is stakeholders and property landlords who either own businesses or have vested interests in the said areas agree to pay for additional facilities and amenities in order to raise the profile of the particular location. An act was passed in 2004 which gave power to these particular property owners, however, it’s within the mandate of the local municipalities within these areas to maintain the infrastructure once the said area is awarded as being an SRA.
Leading industrial and commercial property brokerage, API Property Group has sighted Montague Gardens as a highly favourable industrial and commercial area for various reasons. They have roughly 54 available properties for rental in the greater Milnerton area and 18 of these listed properties are in the Montague Gardens industrial precinct. According to Cornelius Weyers head of API for Montague Gardens, the leading company has sighted the area as a formidable expanse for industry and investment and it’s largely due to locations such as Marconi Beam in Montague Gardens stepping up to implement these types of rejuvenation programs. “When a particular area’s amenities and functionality is improved it greatly raises consumer interests in specific locations and this is why Montague Gardens is becoming a prime area for people within the industrial property market, its leading locality to the rest of Cape Town and the fact that it borders the favourable West Coast for residential reasons make it an extremely desirable area for those wishing to invest in industrial property in the Western Cape”. – Says Weyers.
Marconi Beam is widely regarded to be a highly sought after industrial, retail and commercial area and its close proximity to leading developments nearby such as Century City make the location extremely popular for industrial businesses looking to invest in the Western Cape.
“The city of Cape Town Special Rating Areas (SRAs) is the municipal facility of an additional rate levied on property, payable by owners in a defined area, to raise funds for the improvement or upgrading of such an area. It is a vehicle created to serve the purposes of upliftment, rejuvenation, and sustainability when a collective of real estate owners are in agreement with such needs. SRA’s provide a formal structure through which to finance additional services, such as crime prevention in residential areas where contributions that were previously optional, result in non-payments and lapsing of services as a result.” - Anna-Marie Smith (propertynews.co.za).
Montague Gardens is consistently improving its facilities and functionality hence many are hailing it as one of Cape Town’s best areas for industrial development. With ideal locality and amenities second to none it’s no secret that this is one of South Africa’s most formidable areas for commerce and industry. With so many reasons to invest get in contact with an API Property Group broker today and start your new operation out of Montague Gardens.
Author: API Property Group
