This month we are highlighting two of our Commercial Property Brokers, Michelle Mringi and James Trenchard. Both form a fundamental part of team Galetti and have been instrumental in the growth and success of this division over the years.
Meet Michelle Mringi
Michelle joined Galetti in 2018 and believes that our reputable track record and holistic service offering sets us apart from the rest.
Describing some of the most exciting deals that she has worked on, Michelle highlights Waterfall Logistics Precinct as a stand-out. This deal showcases the importance of being flexible and growing with your clients. “It was concluded amid the COVID-19 lockdown in 2020. Our client was in search of a 2000 to 2500m2 property which wasn’t easy to find at that stage. After going through a few options, they realised that a property of this size wouldn’t accommodate their growth plan, so we helped them find a building double the size that had just become vacant. They signed a five-year lease and believe that they could outgrow this space sooner than anticipated.”
Trends and areas on the rise:
“The surplus of undeveloped land in Midrand is full of potential. One area of particular interest is Junction Industrial Park – located in the ever-expanding Waterfall Logistics Precinct. It comprises of 11 leasable ERFS up to around 373 000m2 .”
“If leasing is not part of your business strategy, then I would recommend that you build your own premises at Lord’s View Industrial Park – located off Allandale Road. 78% of the development is already sold and the remaining stands range from 4738m2 up to 77030m2 – priced from R980m2. The site is fully zoned and serviced, offers a 250kVA per HA municipal power supply as well as extra-wide lanes and turning circles for logistics vehicles.”
In the Samrand area, Galetti is listing Central Point Industrial Park, with warehouse units ranging from 2500m² to 20 000m² (and maxi units smaller than 2 500m²). “There are flexible packages on offer including lease-to-purchase options and flexible lease periods. Properties can be developed to your exact specifications.”
Finally, located on the outskirts of Midrand is Riversands Outlet Park Phase II. “It is home to premium offices, showrooms, warehouses, and light industrial spaces ranging from 160m² to 2500m². Equipped with green building technologies, the property is modern and offers flexible layouts.”
Meet James Trenchard
James joined Galetti six years ago after completing his property degree at the University of Cape Town (UCT). During this time, James noticed Galetti’s presence in Cape Town and decided to pursue a position at our Johannesburg offices upon graduating.
“Galetti differentiates itself with its incredibly strong and accurate live property data used in our in-house built software system: ReBase. The size of our team also allows us to serve the needs of our clients more efficiently.”
James has ‘sealed’ some exciting deals during his time at Galetti, one being the recent sale of a hotel and conference center to the value of R70 million.
Trends and areas on the rise:
“I focus on the northern suburbs of Johannesburg and have noticed an uptick in demand for office and retail space in the Fourways node. This can be attributed to the development of Steyn City precinct, as well as other large mixed-use schemes such as Riversands which have allowed businesses to operate closer to employees' homes.”
Advice for clients operating in the current climate:
As a buyer in this economy, James' advice would be to do your homework by seeking out comparative prices prior to making an offer. “Work with a seasoned property consultant to help do the legwork. Also, ensure that you are aware of all the costs associated with property ownership – including rates and levies.”
He adds that tenants looking for space to lease, should be aware of the different landlord incentives on offer and how much room there is for negotiation. “Again, this comes down to appointing the right property consultant and having these conversations prior to making a hasty decision.”
Interested in making a deal? Contact your nearest commercial property broker!