Growthpoint Properties undertakes R17m expansion for CHC Resources in Prospecton Durban

Posted On Tuesday, 23 October 2012 17:18 Published by Commercial Property News
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Growthpoint Properties has developed a R17 million warehouse expansion for long-time client warehousing and distribution company CHC Resources in Durban's Prospecton node.

Prospecton Durban“We’re committed to investing in client relationships over the long term,” says Leon van Rooyen, Kwazulu-Natal Development Manager of Growthpoint Properties.

“The warehouse expansion is a tribute to CHC’s success and ongoing growth during tough economic times.”

The relationship between Growthpoint and CHC goes back to 2004, when the warehousing and distribution company first took up space in a 5,769m² warehouse at Growthpoint’s 14 Avenue East in Durban’s busy Prospecton node.

Six years later, Growthpoint undertook a R7 million refurbishment and upgrade of the existing premises for CHC.

CHC’s growth warranted a further 4,005m² expansion of the original premises – which Growthpoint completed in August 2012.

“The combined lettable area of the warehouse is 9,774m² and a new ten-year lease was concluded for the entire premises with a deal value of R66 million” explains van Rooyen.

Situated in close proximity to the old airport, which will be re-developed into Durban’s new dug-out port in the near future, the property offers a key locational advantage for a company like CHC.

“The expansion demonstrates Growthpoint’s confidence in CHC as a client, and we look forward to a relationship that will continue well into the future,” he says.

Reshaan Laljith CEO of CHC Resources says, “The relationship between Growthpoint Properties and CHC has been very beneficial to our growth during this recessionary period. Growthpoint’s understanding of our requirements has been outstanding”.

Growthpoint Properties is the largest SA listed property company, with a current market capitalisation of  R44,5 billion.

The company’s asset holdings in Kwazulu-Natal exceed R4.5 billion, with its industrial portfolio alone tipping the R1,3 billion mark.

Last modified on Sunday, 09 June 2013 13:37

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