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Archives for February 2026

Spear REIT strengthened position in Western Cape portfolio

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Spear REIT confirms strengthened position in Western Cape portfolio

The Western Cape-focused Spear REIT reported continued operational momentum in its FY2026 pre-close presentation, driven by portfolio expansion, solid financial performance, high occupancy levels and strong cash collections.

In January 2026, management revised its distribution per share (DIPS) guidance for the year ending 28 February 2026 to growth of 5%–6% compared to FY2025, with performance tracking toward the upper end of that range.

Quintin Rossi, CEO of Spear REIT, said: “Management is pleased to report that Spear will achieve a mission-statement-aligned outcome for FY2026, resulting in DIPS guidance of 5%–6% higher than FY2025, which is trending towards the upper end of its range at year end.”

Highlights
• DIPS guidance revised to 5%–6% growth for FY2026, trending toward the upper end
• Portfolio value increased to R6.8 billion across 42 Western Cape assets
• 97.28% occupancy rate and 99.13% cash collections year to date
• R1.074 billion deployed into three acquisitions at a 9.54% average yield
• Portfolio GLA increased by 137 090 m²
• Weighted average lease escalation at 7.05%
• Loan-to-value ratio of 24.62% and interest cover ratio of 4.39 times
• R400 million liquidity available net of allocations
• R749 million capital raised and R152 million Section 42 share issue concluded
• 28 assets fitted with solar infrastructure, generating R25.9 million in gross revenue year to date

Year to date, Spear’s portfolio value increased to R6.8 billion across 42 Western Cape assets, with total GLA of approximately 627 000 m² and an occupancy rate of 97.28%. Cash collections for the period reached 99.13%.

Operationally, the portfolio’s lease profile remains stable, with an average unexpired lease term of approximately 29 months and in-force annual escalation of 7.05%. Overall rental reversions were marginally just under flat, while renewals delivered growth of 5.83%. During the period, Spear completed R1.074 billion in acquisitions, adding three Western Cape assets to the portfolio at an average yield of 9.54%. These included Berg River Business Park in Paarl, Maynard Mall in Wynberg and Consani Industrial Park in Goodwood.

Commenting on the acquisitions, Rossi said: “Spear’s growth strategy is delivering in line with its strategy, with the recently acquired assets adding 137 090 m² to portfolio GLA and increasing portfolio valuations to R6.8 billion prior to fair value adjustments”.

Sectorally, industrial assets – the largest component of the portfolio by GLA, value and revenue – reported occupancy of 98.77% and positive rental reversion of 2.38%. Retail occupancy stood at 96.68%, while the commercial portfolio recorded occupancy of 92.64% alongside continued letting momentum, total portfolio occupancies since the half year results have increased by 2,25% to 97.28%.
The balance sheet is primed for growth and remains well within covenant levels, with a loan-to-value ratio of 24.62% and an interest cover ratio of 4.39 times. Liquidity available net of allocations amounted to R400 million. During the year, Spear raised R749 million in equity capital and concluded a further R152 million Section 42 share issue.

The group also expanded its renewable energy footprint, with 28 assets fitted with solar infrastructure and two additional systems under construction. Solar PV contributed R25.9 million in gross revenue and R17.3 million in net operating income year to date.

DIPS guidance for FY2026 remains subject to the stated assumptions for the remainder of the financial year, and the payout ratio will be maintained at 95%, as approved by the board.

Rossi concluded “The FY2026 pre-close reflects the outcomes of a year where momentum was built from start to finish, driven by strong operational and financial performance. This was achieved through Spear’s focus on top-line revenue growth, disciplined cost control and growth in sustainable cash-backed net operating income, enabled by active asset and hands-on property management. Kudos to the entire Spear team, who remain materially invested in achieving of our strategic objectives set for FY2026”

 

 

Vukile to acquire Islazul Shopping Centre in Madrid

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Vukile to acquire Islazul Shopping Centre in Madrid in landmark EUR 318 million transaction

Vukile Property Fund (JSE: VKE) today announced that its 99.7% owned subsidiary Castellana Properties will acquire Islazul Shopping Centre in a significant EUR 318 million transaction that sees it enter the Spanish capital city of Madrid, one of Europe’s most dynamic and fastest growing economic powerhouses. Islazul is an iconic asset, ranked among the top 10 shopping centres in Spain, and is recognized as the “most sustainable shopping centre in the world” as the recipient of highest BREEAM certification globally.

Islazul is being acquired from Nutwood Invest, which is held by international private equity and real estate managers Henderson Park (95%) and Eurofund (5%), at an initial yield of 6.5% and delivering a cash-on-cash yield in excess of 8%.

The transaction is earnings accretive and will be fully funded by existing cash resources. Following completion, which is expected on 30 April 2026, subsequent to Vukile’s financial year ending on 31 March 2026, Castellana will hold 100% ownership of Islazul.  The transaction will not impact the forecast for the 2026 financial year.

The acquisition of the flagship 90,933m2 shopping centre, with integrated value-add opportunities, continues Vukile’s ongoing capital recycling into higher-growth Iberian shopping centres. Earlier this month, it announced the acquisition of Berceo Shopping Centre, in the city of Longrono, La Rioja, for EUR101 million at a 7% yield.

The Islazul investment marks Castellana’s strategic expansion into Madrid, one of Europe’s most attractive metropolitan markets, and further strengthens its portfolio and geographic diversification.

Commenting on the transaction, Laurence Rapp, CEO of Vukile, says, “When the opportunity arose to acquire this institutional-grade asset with attractive growth prospects in a major city that is the powerhouse of Spain’s growth, we were able to move decisively, supported by a favourable cost of capital in South Africa and rotating capital from the sale of our Spanish retail parks portfolio.”

Madrid is a key economic engine within Spain, benefiting from strong economic fundamentals, sustained population growth, robust employment trends and rising household incomes. The city continues to attract record-high domestic and international tourism, reinforcing retail demand, footfall and long-term asset performance. All these factors are further reinforcing its appeal as a prime destination for long-term real estate investment.

Demographic momentum, combined with improving infrastructure and increasing consumer density, underpin Islazul’s strong performance outlook.

The centre is located in one of the most densely populated urban zones of southern Madrid where it is ideally positioned to capture future growth in a city and a neighbourhood with compelling retail potential. The centre benefits from a catchment area that has recorded population growth of approximately 10% over the past decade, ahead of the national average of 4.5%. It draws an extended reach of more than 1.9 million people within a 15-minute drive, supporting footfall of approximately 11.5 million visits per annum and underpinning robust performance.

Offering significant scale and visibility, it is deeply integrated with its surrounding urban environment, including excellent public and private transport links. More than 50% of visitors arrive on foot or by public transport, and a new metro line stop in the area is due to open in 2027, further boosting accessibility.

The centre’s retail and leisure tenant base of more than 180 brands is performing strongly, with robust and growing sales across major occupiers. Key operators include leading Inditex brands Zara, Stradivarius, Lefties, and Pull&Bear, along with other fashion anchors Mango and Primark.  The tenant mix is further enhanced by MediaMarkt, JD Sports, Homa, Milbby and Lidl, complemented by a strong leisure and food and beverage offering with 40 establishments, including Yelmo Cines, Ilusiona, Burger King, McDonald’s, Tony Roma’s and Foster’s Hollywood.

The centre’s performance is expected to benefit greatly from integration into Castellana’s retail specialist asset management platform. Value-add projects of EUR 23 million have already been identified, scoped and approved and are expected to yield in excess of 10%.

“Islazul complements Castellana’s Iberian portfolio and underscores the decisive implementation of a focused investment strategy that has comprehensively transformed the portfolio,” notes Rapp.

Vukile entered the Spanish market via Castellana by acquiring smaller, simpler assets such as retail parks, and unlocking value through focused asset management and operational discipline. These assets provided income growth and local market insight, while building Castellana’s on-the-ground capability.

With that platform in place, it expanded into dominant shopping centres in secondary cities in Spain and into Portugal, targeting dominant assets with strong catchments, resilient tenant demand and clear repositioning potential. This strengthened both earnings quality and portfolio profile and continues to be an investment focus for Castellana.

Today, around two-thirds of Vukile’s assets and net property income is generated in Spain and Portugal, and it has grown to become the third largest South African REIT.  Castellana has strategically curated a premium retail real estate portfolio in Iberia, that ranks alongside leading established portfolios across Europe. It’s market standing and delivery record supports access to further opportunities as Vukile progresses its firm pipeline of acquisitions in both Iberia and South Africa.

Growthpoint advances retail portfolio strategy

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Growthpoint advances retail portfolio strategy with R75 million redevelopment of Walmer Park Shopping Centre

Growthpoint Properties (JSE: GRT) is advancing its strategy of reinvesting in high‑performing South African retail assets with a R75 million redevelopment of the Edgars premises at Walmer Park Shopping Centre in Gqeberha.

This investment will reinforce Walmer Park’s position as the city’s leading retail destination by introducing a new internal link mall and expanding the variety of retail offerings.

The project aligns with Growthpoint’s broader retail strategy to increase exposure to assets and regions positioned for sustainable long‑term growth, particularly in key coastal metros such as KwaZulu‑Natal and the Western Cape.

Across its retail portfolio, Growthpoint continues to prioritise capital allocation towards dominant centres with strong trading metrics and proven reinvestment potential. Following the recent commencement of the R270 million upgrade and expansion of Paarl Mall, Walmer Park is the second major strategic redevelopment initiated this year.

The redevelopment focuses on optimising the retail mix, improving circulation, unlocking value from existing space, and enhancing the overall customer experience.

Gavin Jones, Head of Retail Asset Management at Growthpoint Properties, notes: “Walmer Park is a well‑established, dominant regional centre with consistently low vacancies and strong tenant demand. With vacancies at approximately 1.5%, this redevelopment offers a rare opportunity for new tenants to enter an otherwise fully let centre.”

Situated in the heart of suburban Walmer, the centre is recognised for its high‑quality retail and customer experience, as well as its ongoing evolution in response to changing shopper needs. This redevelopment marks the centre’s eighth upgrade in 38 years and underscores its commitment to contemporary, market‑relevant retailing.

A key component of the project is the reconfiguration of the existing 4,680m² Edgars store into a refined, 1,982m² format supported by a refreshed tenant mix. The introduction of a new link mall will accommodate nearly 10 additional stores, bringing the total offering to almost 170 retailers, supported by free customer Wi‑Fi.

“Shoppers can expect an enhanced range of fashion, homeware and national brands,” adds Jones.

The new link mall has been designed to improve internal flow and provide seamless visual continuity with the centre’s modern aesthetic. The project includes upgraded energy‑efficient lighting and integrates Walmer Park’s rooftop solar installation and existing standby generation system. The centre continues to supply filtered borehole water to customers and tenants, a service it has maintained for more than three years.

Construction will commence in March this year, with completion scheduled for November 2026, ahead of the festive trading period.

“Selective redevelopment of strong, established assets is central to our strategy,” Jones says. “By restructuring retail space, introducing sought‑after brands and elevating the customer experience, we ensure our centres remain relevant while delivering sustainable long‑term value. Walmer Park’s redevelopment will create an even more engaging and accessible environment for customers and tenants.”

Redefine cites balance sheet strength as recovery gains traction

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Redefine cites balance sheet strength and policy credibility as recovery gains traction

Redefine Properties says improving fiscal credibility, easing funding conditions, focussed capital allocation and disciplined balance sheet management are translating into tangible outcomes for the group, with recovery gaining traction across its retail, industrial and funding metrics.

Speaking ahead of the group’s pre-close update for the half year ending February 2026, CEO Andrew König said stronger macro fundamentals are proving supportive, with lower interest rates, and higher confidence levels creating a more constructive environment for listed property.

“South Africa’s exit from the FATF grey list, the S&P sovereign upgrade, firmer business confidence and better port, rail and electricity performance being reflected in market pricing,” König said. “With interest rates now below long‑term averages and investors searching for yield, we’re seeing those conditions translate into lower funding costs and a re‑rating of the sector.”

Looking ahead to the 2026 National Budget, CFO Ntobeko Nyawo said fiscal discipline would be critical to sustaining this momentum. “We’re watching closely for progress on formalising a debt-to-GDP ceiling. That kind of policy anchor supports inflation targeting and strengthens South Africa’s credit story, which ultimately feeds through into funding costs and confidence.”

Investor confidence unlocks capital options

Redefine said the discount to net asset value (NAV) has narrowed during the period to around 18%, from roughly 40% previously, improving access to capital markets. The recovery in the group’s share price is reflecting renewed investor appetite for listed property.

“Equity optionality gives us flexibility – whether recycling capital, funding acquisitions, or simply being patient,” König said.

Lower funding costs have also unlocked increased capital recycling opportunities, with private market investors once again able to transact at viable pricing. Redefine said this supports its strategy of disposing of non-core assets and redeploying capital into higher-quality, higher-return opportunities.

Balance sheet strength reduces refinancing risk

Against this backdrop, Redefine has focused on further de-risking its balance sheet.

Loan-to-value remains within the group’s 39-41% target range, while only 4.0% of total debt matures in FY26, significantly reducing near-term refinancing risk.

During the period, Redefine is well advanced in refinancing €324 million of EPP core debt on a five-year tenor at a margin of 2%, achieving a 56 basis point margin compression. In South Africa, the group successfully early refinanced R4.1 billion of secured debt and unlisted notes, securing a further 16 basis points margin improvement.

Liquidity remains robust with access to committed undrawn facilities and cash of R5.3 billion, while interest cover improved to 2.3 times. The group weighted average cost of debt was maintained stable at 7.0%, with rand-denominated funding costs continuing to trend lower.

While a more supportive rate environment is expected to help funding costs, Nyawo stressed that Redefine’s growth is not dependent on the interest rate cycle alone.

“Inflation expectations, and ultimately interest rates, will be shaped by rand resilience and oil prices,” he said. “But our growth over recent years has been driven by positive operational performance driving profitable growth, margin discipline and operational efficiencies, not only macro tailwinds.”

Operational recovery led by retail and industrial

In South Africa, the retail portfolio delivered positive renewal reversions of 2.4%, supported by healthy tenant affordability. COO Leon Kok said consumer confidence would benefit from a fiscally credible 2026 National Budget, particularly one that avoids additional pressure on personal income taxes or consumption – an important consideration for the retail property sector.

While the office sector remains uneven, Kok said green shoots are emerging in specific nodes and assets, with asking rentals beginning to rise for quality space. “Demand is returning for well-located, premium and A-grade offices, and our portfolio is well-positioned to capture that.”

He cautioned that a broader, more sustained recovery across the office sector will ultimately depend on stronger GDP growth and improved employment trends.

The industrial portfolio remains a standout performer, with occupancy at 97% and renewal reversions of 3.7%. New developments at Skyhawk Park and S&J Business Park are on track to deliver yields above 9%.

Energy progress, water risk remains

Redefine has continued to strengthen energy resilience, expanding its solar PV footprint to nearly 63MWp, a 23% year-on-year increase, with solar now supplying 13.1% of total energy consumption. Electricity savings of 71 520kWh supported margin stability, while electricity wheeling initiatives are being progressed.

Water security, however, remains a more complex risk. “Unlike energy, water can’t be solved through on‑site investment alone,” Kok said. “While our efficiency measures have reduced consumption by 7.3%, sustainable water security depends on broader municipal infrastructure and service delivery.”

Kok said the group was encouraged by recent announcements made by government to elevate water security to a national priority, including greater engagement with the private sector, but stressed that timely and tangible interventions, particularly in Gauteng, are now critical.

Poland shifts from expansion to optimisation

In Poland, Redefine’s EPP retail platform continues to perform consistently, with occupancy at 99.4% and strong tenant retention. Logistics and self-storage remain selective growth areas, while the broader strategy has evolved.

“Our focus in Poland has shifted from expansion to optimisation and simplification,” König explained. “This includes streamlining joint venture structures to reduce complexity and improve capital structure flexibility.”

He added that Poland remains an attractive market, but that capital deployment is now tightly disciplined and driven by tenant demand rather than growth for its own sake.

Margins, recurring earnings drive growth outlook

Nyawo said Redefine’s medium‑term outlook is underpinned by a stabilised, high‑quality earnings base. Operating margins improved to 77.1% in the first quarter of FY26, with a strategic medium-term target of 80%, and the group is on track to restore its earnings base. Importantly, non‑recurring earnings have been largely eliminated, reinforcing confidence that growth is being driven by recurring, sustainable cash generated by operations.

“With a de‑risked balance sheet and improving fundamentals, we remain on track to deliver on the upper end of 4.0% to 6.0% guidance growth in distributable income per share,” he added.

Execution capability across the business is also supporting resilience. The group was recognised as a Top Employer for the 11th consecutive year, with employee retention of 98.5% in South Africa and 97.4% in Poland – a key advantage in a talent-constrained industry.

König said that Redefine is increasingly leveraging artificial intelligence in leasing, portfolio analytics and market intelligence, enabling faster and more precise responses to the evolving tenant demand.

“What’s encouraging is that the recovery is no longer theoretical – it’s showing up in our numbers, in funding costs and in market confidence. That momentum is what ultimately builds value, and it puts us on a far stronger footing as we look ahead.”

Delivering capital, development and growth in integated logistics

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Delivering capital, development and growth: Cato Ridge and private investment in transforming SA logistics

Article by Johann Nell, Head of Development & National Asset Manager at Redefine Properties

With the help of private capital and by prioritising integrated logistics, KZN has seen increased rail freight activity during recent months.

Right now, the transport and shipping narrative for South Africa centres on renewal and revitalisation. And for good reason.

 In 2025, Transport Minister Barbara Creecy announced six new targets that would guide the department in its efforts to improve passenger, freight and logistics systems. These targets include carrying 250 million tonnes of freight on the Transnet network by 2029 and improving ship loading and unloading speeds to meet the international benchmark of 30 gross crane moves per hour.

 Additionally, the National Treasury raised R11.8 billion through South Africa’s first Infrastructure and Development Finance Bond, part of a broader budget plan to allocate R1 trillion to public infrastructure over the next three years.

 These are all positive signs that reflect a growing dedication to transforming what is, without exaggeration, one of South Africa’s most critical sectors. As the country works to address years of infrastructure decay and other longstanding challenges, logistics is benefiting from funding and public-private collaboration that enables development and, subsequently, nationwide economic growth.

 It takes many hands to rebuild and strengthen South Africa’s supply chains. By investing strategically, eliminating bottlenecks and capitalising on new opportunities, we lay the groundwork for positive change.

 Private investment changes the game

Logistics sets the pace at which South Africa can move, trade and grow. The nation’s freight and logistics market is expected to reach nearly $20 billion by 2030, growing at a CAGR of 6.24% and underscoring its role in driving economic activity and national development.

 That said, sector reform still has a long way to go. While freight along Africa’s biggest railway system has improved, that system continues to face challenges such as equipment shortages and maintenance backlogs. The Port of Durban, the largest and busiest shipping terminal in Sub-Saharan Africa, occupied last place on the World Bank Container Port Index for 2024, though progress has been made in improving operational and capacity-related challenges.

 What is common across all reform efforts is the input and attention of the private sector. In December 2025, South Africa received its largest-ever private rail investment valued at R3.4 billion, the result of Transnet opening the national network to private operators. Around the same time, Transnet also signed South Africa’s first port-privatisation deal, which will increase the capacity of the Port of Durban’s Container Terminal Pier 2, reduce costs and improve service quality.

 Private capital has come to the table, ready and willing to fund the infrastructure and expansion plans that are critical for South Africa’s long-term growth prospects. The result is projects and developments that strengthen national capacity.

 Inland ports: Precincts filled with opportunity

Part of reforming logistics is not only strengthening and decongesting freight corridors but also developing infrastructure and inland ports that host integrated road and rail logistics, industrial manufacturing and warehousing. This enables the sector to play a greater role in macroeconomic development, creating job opportunities and offering long-term benefits that support an optimised transport network.

 One of the leading examples of private funding propelling South Africa’s logistics push centres around Cato Ridge, the country’s first large-scale, privately funded freight-corridor development. Located just 52 kilometres from the Port of Durban, the development is home to the recently launched Insimbi Ridge Logistics Precinct, which introduces new inland staging and intermodal capacity and forms part of the KwaZulu-Natal provincial government’s plans to integrate private investment into critical infrastructure.

 Occupying 500 hectares of developable land, Cato Ridge is a next-generation hub and essential node in the KZN-Gauteng freight corridor, which itself is critical for getting goods from the Port of Durban up to Johannesburg and throughout the country. The properties offer practical features such as large yard spaces and scalability for multi-tenant occupation, which are essential across all industries like FMCG and e-commerce.

 Thanks to the level of integration, every building and facility in the precinct serves as a strategic business asset, a cog in a well-oiled machine that enables individual enterprises and local and provincial economies to grow. With every container that passes through Cato Ridge and every item that is dispatched to its destination, South Africa takes a step further in rebuilding trust and confidence in its ability to move people and goods.

 The future of SA logistics is reliable, efficient and scalable

From a property perspective, the success of precinct developments like Cato Ridge depends on their ability to effectively support role-players in the material handling and merchant space. Functional, secure and efficient warehouse facilities in close proximity to port infrastructure have proven to be an intrinsic element in the value chain.

 Located along Eddie Hagan Drive close to the N3 highway, one of South Africa’s most critical arterial routes, Cato Ridge DC is superior in design and meets a wide spectrum of supply chain requirements. The 50,333sqm cross-docked modern logistics fulfilment centre competes with newly developed warehouses at every level and is available at a significant discount to new development rentals. With Redefine’s national network of industrial properties, the group is well positioned to serve as a national logistics warehouse partner, bringing to market spaces that support growing public and private capital investments and integrate with national road and rail freight networks.

 It is inspiring to witness how South Africa’s Department of Transport, and the nation at large, continues to spearhead the transformation of national infrastructure throughout 2026. By prioritizing the development of world-class facilities, we are actively building a more prosperous future

ENDS

 

 

Growthpoint breaks ground on Tecoma Park, Cornubia, KZN

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Growthpoint breaks ground on Tecoma Park, Cornubia, advancing its local logistics strategy

Signalling continued confidence in KZN property fundamentals, Growthpoint expands its South African logistics footprint with flagship development

UMHLANGA RIDGE, KWAZULU-NATAL, Growthpoint Properties (JSE: GRT) has commenced construction of its new 36,830m² multi-tenanted logistics park, Tecoma Park, in the rapidly emerging Cornubia Town economic hub in KwaZulu-Natal.

 The major R392m development reinforces Growthpoint’s continued investment in the logistics sector and reflects its disciplined capital allocation strategy, with a clear preference for investment in the country’s stronger-performing coastal metros.

Growthpoint’s KwaZulu-Natal property portfolio is one of the largest and most diversified in the region. Valued at R8.6 billion, it spans 560,000m² of gross lettable area across more than 50 logistics, office, retail and healthcare assets.

Estienne de Klerk, SA CEO of Growthpoint Properties, says: “KwaZulu-Natal remains a core investment region for Growthpoint. Our portfolio in the province consistently delivers exceptionally high occupancy levels, underpinned by sustained tenant demand across all sectors, which gives us the confidence to keep deploying capital in the province in line with our strategy.”

 Growthpoint’s domestic strategy is to increase portfolio weighting towards sectors and regions expected to deliver better growth over the longer term. For sectors, it is specifically targeting logistics and retail property and, when it comes to regions, it is focusing on its portfolios in key coastal metros, including in KwaZulu-Natal and the Western Cape.

 Including Tecoma Park, Growthpoint is currently investing around R1.5 billion in various developments and value-add redevelopment projects in the region, which are already underway or will commence soon. This includes the R800 million purpose-built student accommodation development adjacent to the Howard College Campus of the University of KwaZulu-Natal in Berea.

Greg Worst, Growthpoint’s KwaZulu-Natal regional head, says: “KwaZulu-Natal continues to demonstrate robust property fundamentals, particularly in key nodes offering strong connectivity and long-term growth potential. Demand is driven by the ports, airport and logistics infrastructure, as well as growing consumer markets. From a regional perspective, we continue to see strong tenant demand for well-located, modern space.”

Scheduled for completion in 2027, Tecoma Park will deliver premium A-grade logistics space strategically positioned within Cornubia Town, next to Cornubia Mall and just 12km from King Shaka International Airport and 21km from Durban Harbour. The location offers direct access to major arterial routes, surrounding industrial precincts and key transport infrastructure, enabling fast and reliable movement of goods across the region and beyond.

Jason Reeves, Growthpoint’s head of asset management for logistics and industrial property, says: “The Tecoma Park development responds directly to escalating demand for modern logistics and warehousing facilities in KwaZulu-Natal, amid a well-documented shortage of suitably sized, high-specification units. It is set to become a flagship industrial asset in our portfolio, aligned with our strategy of investing in modern, well-located logistics properties.”

 The development will comprise eight flexible units ranging in size from 2,790m² to 5,264m² with the ability to combine adjoining units creating larger units up to 10,000m² in response to tenant needs and to accommodate a broad range of logistics and warehousing users. Featuring contemporary industrial architecture suited to high-performance operations, the units will offer generous internal heights and efficient loading configurations with both dock‑leveller and on‑grade access.

Each unit will include an integrated office component, modern façade treatments, cantilevered canopies over loading doors and high-quality internal finishes. The park’s masterplan ensures clear separation between industrial operations, vehicle movement and office activity, maximising efficiency and on-site safety. Dedicated truck circulation routes, optimised yard depths and well-planned staff and visitor access points will support smooth traffic flow across the precinct.

As with all Growthpoint’s developments, sustainability is embedded in the design. Solar PV will be installed across the roofs of the units and elegantly screened. Green features include energy-efficient lighting systems, hot-water heat pumps and building forms that maximise natural light to reduce energy consumption. The park will be set within landscaped green spaces that enhance the overall working environment.

As a future-focused logistics destination, Tecoma Park will provide modern, efficient and environmentally responsible facilities tailored to the evolving needs of next-generation occupiers.

“This development reflects our confidence in logistics assets that are well-located, future-ready and demand-led, and our conviction in KwaZulu-Natal’s property fundamentals,” concludes de Klerk.