Plans to develop Wilsonia Industrial Park, which has recently been purchased by local electronics manufacturer Vektronix, are taking shape.

Wilsonia Industrial Park is set to take transfer of the buildings by the middle of May, following months of negotiations around the purchase price.

The buildings previously belonged to the directors of Tellumat, a Cape Town based group. As the anchor tenants, Vektronix maintained the leases of the buildings, and was able to make an informed offer which was accepted by the sellers. The value of the deal was not disclosed but was said to run into millions.

The new owners of the former Tellumat buildings have already started with renovations in preparation for redevelopment as an industrial park. Some of its many unique features include an independent canteen that will cater for all the units, three electricity substations and compressed air available for tenants.

"All safety regulations have been adhered to," said Peet Diedericks, financial director of Vektronix. This includes fire control systems and a certified sprinkler system throughout. Because of its unique features, Mr Diedericks believes that it will be an instant sell-out.

Although the directors and shareholders of Vektronix and Wilsonia Industrial Park are the same, the two companies will operate completely separately. The site was purchased by six directors who one year ago staged a multi-million-rand buy-out of the East London Tellumat plant to form Vektronix.

The Wilsonia Industrial Park, with 33 952 sqm under roof, would have units of 200 sqm to 10 000sqm available at competitive rates. It is located along the main access route to the industrial area. The location is also conveniently close to the harbour, airport as well as the national highways.

The developers hope to attract tenants in warehousing, manufacturing and office space.

- Amalie Niland