Construction is due to commence in July 2022 on a new 4,148m2 building for Zest WEG in Cape Town’s highly sought-after Richmond Park.
Already home to a wide range of logistics and distribution companies, Richmond Park is a unique mixed-use development situated along the N7 in close proximity to Montagu Gardens, which offers its tenants a world-class business environment.
Zest WEG is a subsidiary of leading Brazilian motor and controls manufacturer WEG, with a strong commitment to contributing to the development of the African Region. The Zest WEG headquarters is based in Johannesburg, and this development will extend their operations to a new warehouse space in the Western Cape.
The Zest WEG project marks the second development for the West Property Fund in Richmond Park, following the recent completion of a new 10 000 m2 headquarters for tenant get\Worth.
This new development further enhances West Property Fund’s grounding in what is emerging to be the most defensive asset class in the current economic climate. According to recent reports, industrial property is experiencing a resurgence in demand – even in an increasingly constrained South African economy. This is driven largely by tenants looking for modern and new industrial buildings in centralised logistic hubs, such as Richmond Park.