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Growthpoint lets first two of six Arterial Industrial Estate units in Phase 1

Aerial view of the Arterial Industrial Estate

Aerial view of the Arterial Industrial Estate

12th December 2023

By: Schalk Burger

Creamer Media Senior Deputy Editor

     

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JSE-listed real estate investment trust Growthpoint Properties has let the first two of six units in Phase 1 of its Arterial Industrial Estate development, in Cape Town, to paints and coatings manufacturer Jotun.

Jotun has opted to combine two units for its new larger head office premises of 5 713 m2. Growthpoint’s ability to meet the multinational's extensive fire protection needs has resulted in a significant investment by Jotun in South Africa for the next decade.

"We are pleased to extend our good relationship with Jotun, and to accommodate the bespoke solutions necessary to match their specialised requirements and high standards,” says Growthpoint Western Cape regional asset manager Timothy Irvine.

“We remain committed to creating a state-of-the-art environment for businesses and we are excited to see this new investment in industrial real estate in Cape Town taking physical form. This new product in an up-and-coming area is attracting keen interest and achieving rentals that match its high quality,” he adds.

Jotun will begin trading after the completion of the first phase of the Arterial Industrial Estate in April.

“Our newest, state-of-the-art warehouse, factory and Southern Africa head office hub situated in Cape Town will increase our capacity and capabilities in Southern Africa. It is a huge step forward in supporting our customers across the region and the country, and we are pleased to partner with Growthpoint for the long term as we continue to grow our presence in this market,” says Jotun Paints South Africa MD Martin Trane Ibsen.

Arterial Industrial Estate is an industrial development on a 71 656 m2 site in the growing and modernising established industrial area of Blackheath. The industrial estate will achieve a 4-Star Design and Built Green Star rating, Irvine says.

The R509-million two-phase development will create a high-quality industrial park that meets the needs of contemporary industries. Key features and amenities of the industrial estate include a central location close to the airport, public transport and local eateries, 24-hour security and access control, and water efficiency and energy efficiency.

Construction of the 19 741 m2 first phase started in July 2023, and will feature six warehouse units, ranging from 2 945 m2 to 5 713 m2, each with a two-storey office block. The design enables units to be linked to create larger spaces, either from the outset or to accommodate future expansion.

The development's proximity to arterial roads, including the R300, N1 and N2, and air and sea ports ensures that businesses can efficiently connect with local and global markets, Growthpoint says.

After Phase 1 is completed, the company will start with the demand-driven 21 728 m2 second and final phase. Phase 2 will add a further six warehouse units, ranging from 2 831 m2 to 5 229 m2.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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