WORK has begun on The Brickworks, the eagerly awaited redevelopment of Durban’s Corobrik site into a major logistics and distribution hub.
Developers Investec Property estimate the total development over three phases, including the top structure, will be valued at over R6bn on completion.
Located between Riverhorse Valley and Umhlanga, The Brickworks development represents one of the largest earthmoving contracts in KZN.
About 1.7-million cubic meters of earth is currently being moved to accommodate the development. Top structure development is planned to begin in the second half of 2022.
“We believe that this development is also a vote of confidence in the future of KZN and South Africa,” said Investec Property joint-CEO David Rosmarin.
“While the property market has been challenged by the pandemic and lockdowns, industrial property, in particular warehousing and logistics facilities, has proven to be resilient. The growth in e-commerce has driven demand for best-in-class logistics offerings.”
Rosmarin said that the first phase of construction would create approximately 150,000m² of gross lettable area (GLA), worth close to R2bn. Once all three phases have been developed, The Brickworks will measure more than 450,000m² of GLA.
Strategic advantage
The Brickworks development manager, Investec Property’s Iain Burns, said the large platforms will allow for the construction of warehouses, up to 100,000m² under roof. “This is our biggest strategic advantage, having access to platforms of these sizes. The market has responded positively and we are in discussions with numerous users and clients.”
He added that historically, due to the topography of Durban being uneven, industrial or logistics land had always been in short supply, with demand always exceeding supply.
“Furthermore, in Durban there is especially a shortage of zoned land strategically located and able to offer large platforms.”
Burns said the development would incorporate “green design” with the intention to obtain a green building certificate and provide at least 20% better energy efficiency to tenants.
