De­vel­op­ment plans at Lords View

The Star Early Edition - - COMPANIES -

LISTED prop­erty fund Equites is to de­velop a mod­ern 15 155m² lo­gis­tics fa­cil­ity and of­fices in the Lords View In­dus­trial Park in Gaut­eng for Premier FMCG at an an­tic­i­pated de­vel­op­ment cost of R165 mil­lion. This fol­lows Equites con­clud­ing a de­vel­op­ment lease with Premier FMCG. Equites said yes­ter­day that the con­clu­sion of the de­vel­op­ment lease was con­sis­tent with the com­pany’s strategy of de­vel­op­ing new distribution cen­tres for qual­ity A-grade ten­ants on long-term leases in proven lo­gis­tics nodes with the aim of fur­ther en­hanc­ing the prop­erty fun­da­men­tals of the com­pany. This would add to the qual­ity, de­fen­sive­ness and in­come pre­dictabil­ity of Equites and be sit­u­ated on 3.9 hectares of va­cant land al­ready owned by Equites in Lords View In­dus­trial Park in Gaut­eng. It would also cater for Premier’s con­tin­ued growth by al­low­ing for an ex­pan­sion of 2 484m² and in­clude sev­eral sus­tain­abil­ity and en­ergy ef­fi­ciency mea­sures in the new fa­cil­ity. The de­vel­op­ment will be funded by Equites through its ex­ist­ing ap­proved bank debt fa­cil­i­ties. Equites said Premier had an an­nual turnover of more than R9 bil­lion, em­ployed more than 7 000 peo­ple in its var­i­ous op­er­a­tions and pro­vided in­no­va­tive, branded and private la­bel so­lu­tions. – Roy Cokayne

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