Multinational Metraclark doubles its Growthpoint lease

Southern Africa’s largest refrigeration and air-conditioning wholesaler, Metraclark, is expanding its existing relationship with Growthpoint Properties by substantially increasing its leased premises to 24 400sqm. 

Metraclark, wholly owned by Swedish based firm G&L Beijer AB, which is listed on Stockholm’s Stock Exchange, renewed its lease for in its existing premises based in Mandy Road, Reuven. This 12,052sqm manufacturing plant has extensive access to power and is easily reached by its labour force.

Furthermore, Metraclark signed a new 10-year lease, from June 2013, for another premise in Astron Street, Denver. It includes a 2900sqm office space and a 9,414sqm warehouse for the storage and distribution of its air-conditioning and heating units.

Jason Reeves of Growthpoint’s Industrial Division says: “The Astron Street premise offers great signage potential. Importantly, it’s close to the M2 highway which is imperative as this is the distribution centre for all Metraclark’s products.”

This distribution centre will be one of the warehouses that replenish Metraclark’s 23 sales outlets throughout South Africa, Gaborone and Botswana. Metraclark also have agents in Zimbabwe and Mozambique.

Growthpoint’s investment in the project exceeds R7.0 million for both premises, mostly focused on preparing Metraclark’s new building for a 10-year lease.

Growthpoint has recently grown its own industrial development capacity, and its ability to partner with developers, to meet the demand for redevelopment and new development from its clients in its industrial portfolio. In doing so, it has won the SAPOA Excellence Award for Industrial Development for the last two years.

“Managing the tight timelines and handover created some challenges for the project team but Metraclark’s installation was concluded timeously,” says Reeves. Growthpoint also helped Metraclark purchase the racking and in-rack sprinkling from the previous occupant.

Growthpoint Properties Industrial Division Director Engelbert Binedell says the project is in-line with Growthpoint’s philosophy of looking after clients by nurturing relationships which foster mutual growth opportunities.

“Metraclark’s is a substantial client of Growthpoint and we are very pleased that we could accommodate their expanding footprint,” says Binedell. Growthpoint’s commitment to this philosophy is evident as both properties have the potential for further expansion.

Growthpoint Properties is the largest South African listed property company with property assets valued over R55 billion. It owns and manages 390 properties in South Africa, 43 properties in Australia through its investment in Growthpoint Properties Australia or GOZ, in which it has a 65% stake, and a 50% interest in the properties of the V&A Waterfront in Cape Town.

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