Growthpoint Properties has commenced construction of its new R392 million logistics facility, Tecoma Park, in the Cornubia Town economic hub in KwaZulu-Natal.
The JSE-listed company said the latest development of 36 830 sqm reinforced its continued investment in the logistics sector and reflected its preference for investment in the country’s stronger-performing coastal metros.
The company’s KwaZulu-Natal property portfolio is one of the largest and most diversified in the region. Valued at R8.6 billion, it spans 560 000 sqm of gross lettable area across more than 50 logistics, office, retail and healthcare assets.
Chief executive Estienne de Klerk, said KwaZulu-Natal remained a core investment region for the company.
“Our portfolio in the province consistently delivers exceptionally high occupancy levels, underpinned by sustained tenant demand across all sectors, which gives us the confidence to keep deploying capital in the province in line with our strategy.”
The company’s domestic strategy is to increase portfolio weighting towards sectors and regions expected to deliver better growth over the longer term.
Sectors it is targeting include logistics and retail property and when it comes to regions, it is focusing on key coastal metros, including in KwaZulu-Natal and the Western Cape.
In KZN, the company is investing around R1.5 billion in developments and redevelopment projects, which are under way or will commence soon. This includes the R800 million purpose-built student accommodation development adjacent to the Howard College Campus of the University of KwaZulu-Natal in Berea.
KwaZulu-Natal regional head, Greg Worst, said the province continued to demonstrate robust property fundamentals, particularly in key nodes offering strong connectivity and long-term growth potential.
“Demand is driven by the ports, airport and logistics infrastructure, as well as growing consumer markets. From a regional perspective, we continue to see strong tenant demand for well-located, modern space.”
Tecoma Park will deliver premium A-grade logistics space strategically positioned within Cornubia Town, next to Cornubia Mall, 12km from King Shaka International Airport and 21km from Durban Harbour.
The location offers direct access to major arterial routes, surrounding industrial precincts and key transport infrastructure, enabling fast and reliable movement of goods across the region and beyond. The development is expected to be completed in 2027.
The company’s head of asset management for logistics and industrial property, Jason Reeves, said the development responded to escalating demand for modern logistics and warehousing facilities, amid a well-documented shortage of suitably sized, high-specification units.
“It is set to become a flagship industrial asset in our portfolio, aligned with our strategy of investing in modern, well-located logistics properties,” he said.
The development will comprise eight flexible units ranging in size from 2 790 sqm to 5 264 sqm with the ability to combine adjoining units creating larger units up to 10 000 sqm in response to tenant needs and to accommodate a broad range of logistics and warehousing users.
Featuring contemporary industrial architecture suited to high-performance operations, the units will offer generous internal heights and efficient loading configurations with both dock‑leveller and on‑grade access.
The park’s masterplan ensures clear separation between industrial operations, vehicle movement and office activity, maximising efficiency and on-site safety. Each unit will include an integrated office component, modern façade treatments and cantilevered canopies over loading doors.
Solar PV will be installed across the roofs of the units. Green features include energy-efficient lighting systems, hot-water heat pumps and building forms that maximise natural light to reduce energy consumption. The park will be set within landscaped green spaces that enhance the overall working environment.
