New tenant signs up for R55m Cape Town industrial park
JSE-listed Growthpoint Properties has secured packaged goods company Tiger Brands’ milling logistics division as a tenant to its new R55-million Range Industrial Park development in Blackheath, Cape Town.
Tiger Brands will occupy 4 600 m2 of business property, comprising a large warehouse and 400 m2 of offices, on a three-year lease.
With the development now 50% let, Growthpoint development manager Riaan Munnik tells Engineering News that the company hopes to let the remaining space of the business park soon so that clients and businesses can realise the benefits that Blackheath offers.
“We believe that Blackheath is still an undiscovered jewel and offers very good future investment growth. The property is arguably on the most prominent intersection in Blackheath and is located 200 m from the Blackheath train station. It is also located 1 km from the R300, which links the N1 and the N2.
“The Blackheath community improvement district plays a huge roll in upgrading infrastructure and offers services such as security and cleaning and, therefore, a lot of value, which benefits all businesses,” he says.
Growthpoint acquired the property in 2013 when it consisted of an existing 6 300 m2 building and 1.4 ha of vacant land. The company has since developed the site into a modern industrial warehousing space with offices.
Munnik states that Growthpoint’s vision was to create sought-after ‘big-box’ warehousing for storage and logistics operations.
Growthpoint industrial sector divisional director Engelbert Binedell says the Range Industrial Park development links well with Growthpoint’s opportunistic strategy to developments.
“Blackheath is a growing node with increasing demand. We have taken a functional asset and bolted down a new development. “The completed product has added underlying value,” Binedell says.
Munnik adds that an attractive feature of the Range Industrial Park is that it holds opportunities for expansion, which makes it the ideal platform to support businesses in their growth.
Comments
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation