Industry related headlines to keep you in the know.
Atterbury, a renowned property developer, and Truworths Limited, a leading clothing retailer, have entered into a landmark agreement to establish a cutting-edge Distribution Centre facility at King Air Industria in Cape Town. This joint venture between King Air Industria and Truworths aims to create a world-class development project that will revolutionize Truworths' operations in Cape Town.
The state-of-the-art building, developed by Atterbury and customized specifically for Truworths, will consolidate the retailer's various facilities in Cape Town into a single, highly efficient location. The initial phase of the project spans 53,000m2 and comprises a 3,000m2 office space and a 50,000m2 warehouse. The design also allows for future expansion up to 70,000m2, offering flexibility to accommodate Truworths' evolving needs.
An integral part of the development plan is the focus on achieving international recognition for sustainability. The project is designed to meet the rigorous standards required for an EDGE sustainability certification. Construction is scheduled to commence in October 2022, with the completion of the building anticipated for September 2023.
Emanuel Cristaudo, Chief Financial Officer of Truworths, expressed the company's excitement about this significant undertaking: "With our business's growth, we have been actively seeking a larger, state-of-the-art distribution center to meet our future requirements. The strategic location of King Air Industria, coupled with the benefits of the business park, led us to collaborate with Atterbury, who have demonstrated a deep understanding of our warehousing needs. This project positions us strongly for the future, and we eagerly await its completion."
Arno du Plessis, Atterbury's development manager for King Air Industria Cape Town, welcomed Truworths as a valuable addition to the business park: "We are thrilled to partner with this esteemed national and international retailer. Truworths' participation further advances the development of King Air Industria Cape Town, which continues to attract top-tier businesses seeking quality, sustainable premises that support their operational goals while maintaining environmental responsibility."
Strategically located with easy access to Cape Town International Airport cargo terminals, King Air Industria offers a distinct advantage for businesses. Situated between Airport Approach, Borcherds Quarry, Robert Sobukwe, and Pallotti roads, the area boasts excellent connectivity to the city, inland regions, and major highways such as the N2 and the R300 freeway.
Spanning 72 hectares, King Air Industria Cape Town provides essential infrastructure and 24/7 security features, catering to high-performance businesses. Notable tenants already include The Courier Guy, occupying a 10,112m2 turnkey facility, and Morgan Cargo, operating from a 7,500m2 provincial head office building with specialized cold storage capabilities.
Mia Kitshoff, Atterbury Leasing Manager for the Western Cape, highlighted the leasing success in the region: "We are experiencing strong leasing momentum in the Western Cape, not only at King Air Industria but also across other properties such as Richmond Park, where the demand-driven development is progressing rapidly."
In a separate endeavor, Atterbury recently secured agreements with Takealot for a 20,400sqm second phase of its Richmond Park distribution facility, expanding the total size of the facility to 44,000sqm upon completion in June 2023. Additionally, Atterbury finalized a deal with Brights, a prominent hardware retailer, for a 6,000sqm space set to be finished in November 2023.
With a proven track record of 28 years in property development, investment, and asset management, Atterbury continues to deliver exceptional solutions both in South Africa and internationally.
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