Eris Launches R1.5bn Umgeni Development

14 Nov 2016
Eris Property Group launched the development of their R1, 5 billion decor & lifestyle business park on Thursday 10 November at the Beverly Hills Hotel in Umhlanga.

Eris Property Group a leading property investor and developer in South Africa, with their development partners, Accessio, Intersite & PRASA has designed the prime destination park to provide 90,000sqm of modern business space. The park is ideal for users requiring commercial, retail, showrooms & offices space.

Umgeni Deco & Lifestyle Park is ideally located within the existing Umgeni Business Park and takes advantage of the thriving node. The land is the last centrally located undeveloped piece of land in Durban.
Lance Meyer, Development Manager at Eris Property Group explains that, in addition to its track record of demonstrated development success in the Durban area, it chose this site as part of its expanding portfolio of developments in Durban because the node is set to receive a new injection of investment.


Also, the Umgeni site is the best positioned, and the last major site for development in the immediate area. “It offers sweeping highway frontage with excellent visibility and has superb in-out access right on a major highway intersection,” says Meyer.


Access to the precinct is exceptional following major upgrades to the Umgeni interchange and Umgeni Road, allowing ease of vehicular access to the national road network as well as to the city road network. Visitor access into Umgeni Deco & Lifestyle Park is via the efficient road network or by train via the future rail network currently being planned by the EThekwini Municipality.


The development will be undertaken by Eris Property Group and Accessio Group in Partnership with PRASA & Intersite Asset Investments. Intersite Asset Investments provide property and asset management solutions to PRASA through a range of innovative and entrepreneurial solutions in order to create value enhancing opportunities through PRASA land holdings.
Construction will begin mid-2017 and the development will be constructed in two phases over the next five years.


Meyer confirms that all development and environmental approvals are in place, and the business park is ready to develop as a full site for facilities up to 90,000sqm GLA (Gross Lettable Area) over 13, 6 Hectares.
Umgeni Deco & Lifestyle Park will be secure to support its tenants with high-spec infrastructure as well as a comprehensive framework of services and other quality features.
With all this, it is unsurprising that Eris Property Group has received interest for space at the prime Umgeni Deco & Lifestyle Park business address, even before it officially launched the development.
 

Source: Eris Property Group