Investec Property Announces Plans Of Constructing A R6 Billion Business And Logistics Park
Investec Property Announces Plans Of Constructing A R6 Billion Business And Logistics Park. Investec Property has announced that it is constructing a R6 Billion business and logistics park (The Brickworks) that will be based in Umhlanga, Durban.
Joint CEO David Rosmarin told Independent Online that the development was a vote of confidence in the future of KZN and South Africa. “While the property market has been challenged by the pandemic and lockdowns, industrial property, in particular warehousing and logistics facilities, have proven to be resilient. The growth in e-commerce has driven demand for best-in-class logistics offerings. It will become one of South Africa’s most pivotal logistics and distribution hubs due to its superior location, access and security,” he said.
Rosmarin continued to say, “Once all three phases have been developed, The Brickworks will measure in excess of 450 000m2 of GLA (gross leasable area) at an estimated value of R6bn. The reinvigoration of the factory site will bring ongoing sustainable long-term economic stimulus to KwaZulu-Natal.”
The development of this business and logistics park will have a huge positive impact on the economy as more employment opportunities will be created. The company is investing a lot of money in the project so therefore it has researched that once it is completed it will generate them enough money to cover the initial investment and also gain a lot of profits. This park will not only benefit Investec Property, but other businesses will also indirectly benefit as they will be partnering with Investec Property in developing the park.
The Brickworks property manager, Iain Burns, also told Independent Online that, “Our large platforms will allow for the construction of warehouses, up to 100 000m2 under roof. This is our biggest strategic advantage, having access to platforms of these sizes. The market has responded positively and we are in discussions with numerous users and clients.”
