New Logistics Park in Durban Secures Takealot as Anchor Tenant
Investec Property, a division of the renowned investment banking corporation, has finalized an agreement with Takealot, the e-commerce powerhouse under Naspers, to occupy a sprawling new distribution center within its latest R6 billion logistics park venture in Durban.
Named The Brickworks, this development stands as Investec's flagship property undertaking in South Africa, situated across a vast 157-hectare expanse in Avoca, near Durban's Riverhorse Valley - an area deeply affected by the 2021 KZN riots.
Despite the challenges posed by recent events, Investec is pressing forward with the project, spurred by the robust demand for logistics and industrial real estate in the region, particularly given Durban's status as South Africa's primary container port hub.
Takealot's commitment to establish a cutting-edge distribution center at The Brickworks aligns with Investec's vision of spurring substantial job creation and economic vitality in South Africa. The move underscores confidence in KwaZulu-Natal's potential economic resurgence despite setbacks such as the Covid-19 pandemic, the 2021 riots, and subsequent floods.
The Brickworks occupies the former Corobrik factory site and represents one of the last available parcels of land in Durban's rapidly expanding northern corridor. The strategic positioning, endorsed by the eThekwini Municipality, aims to position the region as a premier logistics hub for Africa, enhancing supply chain efficiencies and fostering economic growth.
Through collaborative efforts with the eThekwini Municipality's City 'One Stop' Catalytic Project Unit, Investec has unlocked this pivotal site, strategically positioned to enhance Southern African trade flow.
Initial phases of the Takealot distribution center will cover approximately 43,000 square meters, with provisions for future expansions totaling an additional 20,000 square meters. The comprehensive logistics park development anticipates a total investment of R6 billion over the next decade.
Mamongae Mahlare, Executive Chairperson of Takealot Group, emphasizes the socio-economic impact of their investment in KwaZulu-Natal, especially in bolstering regional delivery capabilities and market access for SMEs.
This development garners praise from Mxolisi Kaunda, Mayor of eThekwini, who lauds The Brickworks as a cornerstone of South Africa's logistics infrastructure, fostering economic empowerment and growth opportunities.
Moreover, The Brickworks prioritizes security and sustainability, integrating state-of-the-art technologies and highly skilled personnel to safeguard its tenants and assets.
As the development progresses, over 60% of Phase I has been secured, with negotiations ongoing for the remaining space. Notable tenants include SuperGroup, Food Lovers Market, and DB Schencker, reflecting the park's attractiveness to prominent national and multinational entities.
Iain Burns, Development Manager at Investec Property, anticipates the opening of Takealot's distribution center in July, marking a significant milestone in The Brickworks' journey. The project's success stems from its strategic location, accessibility, and the scarcity of serviced industrial land in KZN, positioning it as a prime destination for businesses seeking optimal logistics solutions.
