Longmeadow Business Estate is located in the Lethabong/Modderfontein precinct in north eastern Johannesburg. The access controlled industrial estate is located just off the N3 freeway and is divided into 4 sections (Longmeadow North, South, East and West) and is surrounded by popular retail, commercial and residential nodes including Greenstone Shopping Centre, Greenstone Hill, Thornhill Estate, and Lakeside.
The estate began development over 15 years ago with the onset of sale of individual stands ranging in price from R180/m² to over R300/m² for the prime stands enjoying exposure onto the N3 freeway. The land was previously owned by AECI and sold by Heartland Properties, an AECI company established in 1999 to realize value from land property assets. The market responded well and land pockets were purchased by owner occupiers, investors and developers alike. Several prominent developers secured land on behalf of future tenants and owner occupiers and these included Improvon, Griffin Holdings and Dickinson Projects. Improvon continue to be major stakeholders in the area and their head office is even located within the estate.
Companies that were early occupiers in the estate included Nashua, MMD, ACDC Dynamics, Crown Relocations, Kuehne Nagel and Pick ‘n Pay’s distribution centre, which at the time was one of the largest warehouses in the area at nearly 60 000m². Over time the area saw many blue chip occupiers move to the estate including Bongani Rainmaker, Rohlig Grindrod, Courier IT, Woolwwrths and Kevro to name a few.
The success of the estate together with the development of the K113 roadway led to expansion and development in adjacent areas including Meadowview Business Estate, Longlake and Westlake. The K113 runs almost parallel to the N3 and makes for easy access between Longmeadow and Linbro Park adding benefit to both areas and creating a corridor of development opportunities.
Land opportunities within Longmeadow itself are currently extremely limited, you can expect to pay up to R1500/m² for land in Longlake where there is some land available, in fact stock in general in the area is limited owing to the demand for property there. Rental rates have increased from about R30/m² when the estate was first developed up to R65/m² for existing warehousing and even R80/m² for a new development.