Freedom Property Fund recently broke ground on the next phase of the Steelpoort Industrial Park in Limpopo. The park which will have seven industrial units, each standing at 1 100m2, will help the property firm to grow its portfolio.
Part of the developed Industrial park comprises of 20 000m2 mini, midi and maxi units, and 28 000m2 are yet to be developed.
According to the CEO of Freedom Property Fund Tyrone Govender, Steelpoort Industrial Park is placed in a convenient area to help deliver goods and services to the surrounding mining sector. Given that the mines in the area are still developing, this will help the park serve them well.
Freedom Property Fund got listed on JSE in June 12 and has a portfolio offering of commercial, residential and industrial property assets that amounts to US $ 0.15bn.
The assets include income yielding properties including a pipeline, which is about US $ 0.28bn of commercial developments. Residential properties for rent and sale properties amount to US $ 0.66bn.
It is expected that Steelpoort Industrial Park will have a value of about US $ 58.10 upon completion.
