Investec unit, Toyota SA in property partnership

Posted On Wednesday, 19 January 2011 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

Investec Property Limited said on Tuesday it had partnered with Toyota South Africa to acquire and develop the vehicle manufacturer's new R363m parts distribution centre.

David RosmarinInvestec Property Limited, the property arm of the specialist bank Investec (INP), said on Tuesday it had partnered with Toyota South Africa (Toyota SA) to acquire and develop the vehicle manufacturer's new R363 million parts distribution centre.

Toyota SA announced on Monday in planned to build this new warehouse, which will house more than 110,000 different parts and components, and serve Toyota SA's 223 local and 70 export delivery points.

Investec Property said it received this mandate from Toyota SA in 2009.

It said Toyota SA had, in consultation with the company, acquired an 18 hectare tract of land near OR Tambo International Airport for the development of the new parts distribution centre.

"Site selection was critical due to location, size and accessibility. It has been a lengthy process and we believe that the right site has been selected to accommodate Toyota's current and future warehousing requirements," David Rosmarin of Investec Property said.

First phase development comprises 40,860m2 of warehouse, 3,475m2 of offices and 7,300 m2 of covered loading area and will take about 12 months to develop.

Investec Property will be constructing the platform for a potential future expansion of a further 38,000m2 of warehouse and 7m000m2 covered loading area.

Last modified on Friday, 22 November 2013 09:42

Most Popular

Growthpoint begins construction of the Kent residential apartments in KZN

Aug 26, 2021
Marius Els, Development Project Manager at Growthpoint Properties
Growthpoint Properties (JSE: GRT) has commenced the development of Kent, its first…

On Auction: Iconic Redevelopment Opportunity in Oranjezicht Cape Town

Aug 26, 2021
The_Lenox
Currently operating as a 43 room guesthouse / backpackers.

On Auction: Spacious offices with multiple amenities in Norwood

Aug 26, 2021
Default Image
Spacious offices with multiple amenities on Auction in Norwood.

On Auction: Retail & Offices Property with unutilised bulk in Rivonia Johannesburg

Aug 26, 2021
KTM_Building
The anchor tenant is Road Adventure Dirt (Pty) Ltd (RAD) which is the premier KTM…

Prevance Capital launches the Executive Premier Funding Solution, targeted at experienced, successful property developers and businesses in South Africa

Sep 14, 2021
Are you tired of waiting for lengthy traditional funding methods to be approved? Prevance…

Please publish modules in offcanvas position.