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New ‘windfall’ premises for Tiger Brands in Cape Town

Category NEW PREMISES - TIGER BRANDS

New ‘windfall’ premises for Tiger Brands in Cape Town

Profile Property has brokered another lease for JSE-listed company Tiger Brands – this time in Cape Town. The newly-developed industrial warehouse, situated in the Blackheath area, is owned by Growthpoint Properties, South Africa’s largest Real Estate Investment Trust.

The Cape deal follows the successful conclusion last year of two leases for Tiger Brands in respect of premises in Johannesburg and Bloemfontein.

Profile Property broker Carl Groenewald said the three-year lease agreement had succeeded in further strengthening the good relationship between Profile and Tiger Brands. It was also “more evidence of Profile’s national reach in the commercial and industrial property market”.

Although initially keen to remain in the Epping industrial area in order to avoid disruption for their staff members, Groenewald said Tiger Brands manager Amod Moula, and operations director for Milling Logistics (Tiger Brands grains division’s main service provider) Rob Martin, immediately recognised the value of the Blackheath property when, having some time to kill before their flight back to Johannesburg, they agreed to view it.

“Putting this Blackheath property in the mix was a windfall; we would never have ventured into this area but the fact that Profile had placed us successfully on two previous occasions made us think twice and have a look,” said Martin.

Although not in Epping, the attractive, new Blackheath property “ticked all the boxes”. Not only was it the right size at 4,400 square metres with a large yard space, but it had a sprinkler system – an absolute necessity for the safe storage of dry foodstuffs – and a roof that was not made out of asbestos – another prerequisite. Additionally, the premises are in a central location with ready access to most of the Cape Peninsula. Both Moula and Martin recognised the value to the national brand of the brand new premises.

And, as it turned out Tiger’s staff showed a willingness to relocate and, on 1 February 2015, the new premises became operational.

“The experience shows the value of being able to show your client a broad range of properties,” said Groenewald. “While it’s obviously important to meet the client’s specifications and not to overwhelm them with too many options, a good broker should also be able to offer a couple of alternative properties as backups,” said Groenewald.

Martin said the short time between the request and actual viewing was “incredible” and enabled Tiger Brand to make decisions quickly.

“Profile were able to show us a cross-section of properties, giving us an objective view of the market and availability,” said Martin.

“This is now the third successful relocation that we have done through Profile. Their ability to recognise our needs and source properties beyond their immediate market is invaluable.”

Author: SHARON DELL

Submitted 23 Mar 15 / Views 3461

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