Zungu Investments continues to diversify its investment portfolio across various sectors. Through Zungu Properties, the investment holding company has recently added the Unilever warehouse in Gauteng Province and the KZN Takealot Distribution Centre in KwaZulu-Natal Province to its investment portfolio.
The acquisition of these properties further cements Zungu Investments’ position as a major player in the local commercial real estate market.
The company’s Chairman, Sandile Zungu, explained that the acquisition of both commercial properties was part of his company’s strategy of dis
“We are always in the market for opportunities to invest in key assets that align with our company’s goal and future growth projection. Both these commercial properties presented an excellent opportunity to diversify our asset base and gain a foothold in the warehouse rental market,” Zungu said.
The Unilever warehouse is a large light industrial property which boasts 100,000m² in size. The warehouse is in Anderbolt, Boksburg, about 5km from OR Tambo International Airport. It is strategically located to give tenants easy access to the airport.
Acquired for R1.1bn, this property signals Zungu Investments’ entry into the light industrial property letting market.
The KZN Takealot Distribution Centre, on the other hand, has been described as a state-of-the-art regional distribution centre located in the Brickworks Business and Logistics Park in Durban. It boasts 43,000m² of warehouse space, with additional land that could be developed into a further 20,000m² warehouse space.
Aside from the 20,000 direct jobs and 13,000 indirect jobs that this Takealot warehouse has already created, it will also continue to play a vital role in facilitating market access for small enterprises in the region.
“Both these properties will contribute significantly to the flow of trade through our country and the Southern African region,” Zungu remarked. “Investing in these economic enablers holds the key to unlocking business opportunities in our country and stimulating economic activities.”