Inospace Expands Johannesburg Portfolio with R43 Million Isando Warehouse Acquisition

Inospace Expands Johannesburg Portfolio with R43 Million Isando Warehouse Acquisition. Inospace has strengthened its presence in Johannesburg’s industrial property market with the acquisition of the Hellmann Building in Isando for R43 million, continuing a strategy that focuses on expanding its logistics portfolio in Gauteng.

The latest purchase gives the company its fifth property in the Kempton Park area and adds to a series of acquisitions completed in Johannesburg this year.

According to Inospace, the acquisition reflects its confidence in Johannesburg’s long-term industrial property market despite cautious sentiment surrounding the city’s broader commercial property sector.

Founder and Chief Executive Officer Rael Levitt said the company is finding stronger value in Johannesburg than in Cape Town, where market conditions have become less attractive from an investment perspective.

He added that Inospace believes Johannesburg still offers significant opportunities for future growth and value creation.

Located at 48 Electron Avenue in Isando, the Hellmann Building is positioned alongside Inospace’s existing Electron Exchange property, which the company acquired in 2021. The site also fronts the R24 highway, providing direct access to one of the region’s key freight and commuter routes near OR Tambo International Airport.

The property occupies a 9,518 square metre site and offers a gross lettable area of 8,322 square metres. It includes an A-grade warehouse with executive office space and a 12-metre eaves height.

The building’s current occupant, Hellmann, will remain a tenant while Inospace undertakes integration work. The company also plans to convert part of the property into micro-warehousing as part of its logistics offering.

Levitt said the acquisition strengthens the group’s footprint around OR Tambo International Airport and complements the performance of its existing properties in the area.

The purchase follows earlier acquisitions in Wadeville, Germiston and Wynberg, Sandton. Inospace said these investments have been supported by the disposal of selected industrial assets in Cape Town, allowing the company to redirect capital towards Johannesburg.

Group Managing Director David Bernstein said the Hellmann Building and Electron Exchange will operate as a single integrated site, allowing the company to share access, services and management across both properties while introducing additional micro-warehousing capacity.

Inospace currently owns and operates more than 50 industrial parks, providing space to over 2,100 small and medium-sized enterprises across Johannesburg and Cape Town.