Emira Property Fund's refurbished warehouse facility superbly located in the popular industrial hub of Denver, Johannesburg, has opened its doors, attracting savvy tenants looking for state-of-the-art warehouse facilities, paired with contemporary office space and excellent energy efficiency.
Emira, a leading JSE-listed REIT has invested R8.2 million in the major revamp project, breathing new life into the industrial property which is ideally situated on the corner of Mimetes Road and Kruger Street, offering easy highway access and a convenient location.
"The refurbishment of the Denver warehouse speaks to our commitment to improving the quality of our assets. This property already boasts an excellent location in an established industrial area, with easy highway access, security, and ample electrical power. Following on from the upgrades, we are now able to offer even more value with our modern approach to both their warehousing and business operation needs," says Ulana van Biljon, Chief Operating Officer of Emira Property Fund.
The new facility offers contemporary warehousing of nearly 9,800sqm, in which the new building includes over 1,000sqm of well-designed, comfortable office space with an eye-catching new entrance. The new courtyard bridges the office and warehouse space, and both have been fitted with the latest in energy-efficient lighting to lower occupancy costs at the facility.
An attractive space to do business, the entire building boasts a striking new façade including unusual linear feature lighting, creating a new landmark for the Denver area.
The upgraded warehouse property also offers water-wise, landscaped gardens, and a new gatehouse positioned at a reconfigured entrance point with electric gates, supporting both security and ease of access. New parking canopies have been installed to cover 100 of the 114 parking bays, and new fencing surrounds the entire perimeter.
"What makes this upgraded industrial facility even more attractive are the affordable rental costs and generous tenant allowances. We have identified a need for affordable, modern and convenient warehousing space and the Denver property addresses this perfectly. It goes beyond being just another industrial property in terms of appearance, as well as the latest in warehousing tech. All of this amounting to hard-to-beat value for money, which is in step with business needs in today's economy," van Biljon concludes.
Emira is a medium-cap diversified REIT that is invested in a quality, balanced portfolio of office, retail, industrial and residential properties. At 31 December 2018, its directly held assets comprised 104 properties valued at R12.5bn. It invests indirectly in 22 shopping centres valued at R1.04bn through its exposure to Enyuka Property Fund. It also has a 34.9% holding in JSE AltX-listed Transcend Residential Property Fund. Emira is internationally diversified through its investment in ASX-listed Growthpoint Properties Australia (GOZ) valued at R941m, and its equity investments in eight grocery-anchored open-air convenience shopping centres with a combined value of USD61m through its USA subsidiary.