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Building on investor confidence in the city of Durban, Investec Property, a subsidiary of the investment banking giant, announced that e-commerce group Takealot will take up residence in an expansive new distribution warehouse being developed at its new R6 billion Brickworks logistics park.
The project is Investec’s biggest property project in SA at the moment.
The Brickworks development, a 157ha site in Avoca, close to Riverhorse Valley is perfectly situated to provide logistical business support due to it being perfectly placed at the artery of road, rail, air and port accessability linking it through the city and beyond.
At the announcment and launch of the development site, Investec said, “The Brickworks is poised to create thousands of jobs. Investment in The Brickworks industrial development gears the greater KwaZulu-Natal region up to be a focal point for economic growth. The Brickworks business and logistics park being developed at the region’s old Corobrik factory site situated on one of the last remaining infill portions of land in the rapidly expanding northern corridor of the greater eThekwini metropolitan area,” said David Rosmarin, joint-CEO of Investec Property.
“A collaborative partnership, through eThekwini’s innovative City ‘One Stop’ Catalytic Project Unit, has helped us unlock this strategic site. The Brickworks’ prime location will enable it to boost the flow of Southern African trade through the region,” he added. The development has received enthusiastic support from eThekwini Municipality as it is geared to transform the region into a leading logistics hub for Africa and will play a key role in optimising the supply chain potential of the province.
According to the Catalytic Projects Unit, The Brickworks and the proposed Caneridge residential development, along with Northfields being developed by JT Ross, form part of 350-hectare Avoca Nodal Development, a Catalytic project within eThekwini. In partnership with the municipality, these three precincts will receive funding for portions of the bulk infrastructure for the development of this node. The R10,1 billion investment by the private sector in Ward 110 is expected to provide 51,500 construction job opportunities and 19,000 opportunities in operations over the next 15 years.
eThekwini Mayor Mxolisi Kaunda, said: “The Brickworks is one of our most pivotal logistics and distribution hubs for South Africa. This is a story of value creation and commitment to future value creation from two of our country’s top companies.” He added that it was great to see proudly South African brands choosing to invest and operate from the “connected space” being created as part of the new development. “It confirms to us that the business and logistics park will be an economic enabler, not only for our region but for the broader South African market.”
Commenting on the Takealot Group’s commitment to KZN, Executive Chairperson Mamongae Mahlare says, “As a proudly South African business, our investment into KZN reflects our vision of enabling the economy, by enabling our fellow South Africans through job creation and market access for SMEs. The new facility will also bolster Same-Day and Next-Day Delivery and Collect capabilities for Takealot shoppers living in and around the KZN region. We believe the socio-economic impact will be significant in boosting the potential of the province and its people.”
With users for over 60% of Phase 1 of The Brickworks development already secured and negotiation for large parts of the remaining balance, the site is geared to transform the region into a leading logistics hub for Africa and will play a key role in optimising the supply chain potential of the province and has been strategically designed to unlock greater efficiencies, fuelling a more connected economy for the country and driving direct growth for KZN.
