A R2 billion investment programme will include the redevelopment of two South Durban industrial sites into distribution facilities with container yards as Shree Property Holdings expands its logistics and warehousing portfolio.
The three-year commitment covers property acquisitions and development, predominantly in the South Durban Basin near the Port of Durban and major transport corridors, the company announced on October 16.
Central to the programme are the acquisitions of 1236 and 1400 South Coast Road historically associated with Plascon and Tiger Brands respectively.
At 1236 South Coast Road, the company plans to establish a distribution hub with approximately 40 000 m² under roof and a hardened container yard. Occupation is targeted for March 2028.
Plans for 1400 South Coast Road include approximately 40 000 m² under roof and a hardened container yard with occupation targeted for December 2028.
The latter acquisition, together with neighbouring properties already owned by Shree, will create a consolidated industrial landholding of approximately 130 000 m². The two acquisitions will take the company’s South Durban Basin footprint to more than 700 000 m².
“The Port of Durban remains one of KwaZulu-Natal’s greatest economic assets. Strengthening our portfolio around the port and the logistics corridors that support it is central to our strategy for the next decade,” said Founder and CEO Pran Shree.
The programme also includes continued investment at Woodmead Industrial Park in Shakaskraal on the KwaZulu-Natal (KZN) North Coast.
The near-completed park comprises nine industrial warehouses. Hesto Harnesses occupies a significant proportion of the available space and is investing in expanding its assembly line operations, according to the property group.
