INLSA
Gerald Mundell, the developer behind the 48-hectare Stockowners Business Park property development planned for the KZN Midlands town of Howick.
Up to R1 billion is expected to be invested in the planned 48-hectare Stockowners Business Park in Howick – a project touted to be the most significant industrial development in the town in almost 100 years.
Picturesque Howick has traditionally attracted retirees and has seen massive investment in retirement property developments. But this is about to change, with construction set to start this year on the new business park on the landmark Stockowners site next to the N3 on the Howick/Tweedie off-ramp.
After six years of planning and having secured environmental and development approvals, developer Gerald Mundell said Stockowners Business Park would break ground soon, with the first phase set to be complete next year.
“This would mark the start of the most significant commercial and industrial development in Howick since the old Sarmcol (Dunlop) factory was established in 1919. It closed down about five years ago.
“Howick is better known as a retirement destination as a result of the successful Amber developments. Around 1 600 retirement units have been developed over the past few years with another 300-odd units under way.
“Stockowners Business Park is a mixed-use property development and will bring a business balance to this predominantly residential town in the heart of the KwaZulu-Natal Midlands,” Mundell said.
He said the development was launched last October and already several sites had been sold, including 4.5ha for a R300 million factory. He said the business park would be designed to fit into the surrounding environment and included light industrial, commercial, offices and a retail property development site.
“The 2ha office development site, which already has some existing building on it, has also been sold. When we launched, I conservatively expected the development to attract about R500m in investment over about a five-year development period. But demand has been very good… With a factory development of R300m already secured, together with another big deal in negotiations, it is likely that Stockowners Business Park will become a R1bn project,” he said.
Mundell said demand for sites was mainly from local business and nearby Pietermaritzburg businesspeople who were looking to relocate from the KZN capital.
“It is a prime development site with good accessibility to the N3, what with between 22 000 to 27 000 vehicles going past here, mainly between Durban and Joburg, daily.
“It is well positioned to attract warehousing, logistics and manufacturing businesses, especially with the government planning a logistics and development corridor on the N3 between KwaZulu-Natal, the Free State and Gauteng.”
“This project also ties in with government’s plans to upgrade this important tourism corridor in the KZN Midlands and will give momentum to plans to upgrade the interchange over the N3. This will also boost the rates base of the local Umgeni Municipality. It is also expected to create 2 000 potential job opportunities,” he said.
Mundell, a timber transport businessman from Creighton in southern KZN, bought the Howick property six years ago after recognising its development potential.
“It was owned by local stockowners who sold livestock. It was a landmark site in Howick. That is why we’ve kept the name. After all these years of planning, it’s exciting to see this project take off.
“The development is supported by both the local and district municipalities. A new electricity sub station will be going in and they have also offered incentives such as lower rates, to attract investment. Electricity is also cheaper than in Maritzburg,” he said.
