A private investor has just bought a cold storage and distribution facility belonging to Clover and it has been announced the sale is in the region of R52,5 million.
Located in City Deep, Johannesburg, Clover’s storage and distribution centre has exchanged hands following the dairy group’s relocation to its Atlas facility in Boksburg, Ekurhuleni.
The relocation by the dairy group, Clover led to controversial retrenchments as per media reports in South Africa.
At the same time, the sale of the City Deep cold storage and distribution centre is the latest in a string of warehouse closures undertaken by Clover.
According to Sean Berowsky, director of capital markets at Cushman & Wakefield, Broll, he said they achieved a good price from the sale.
“We achieved a very good price. The huge amount of land which forms part of the site is attractive in terms of potential future redevelopment and could see the entire site getting a new lease on life,” he said according to Business Insider SA.
“This facility is in a prime logistics node, close to main arterials. The old Clover facility was sold by way of the private treaty to a private Durban investor, who will lease the premises out to a cold storage operator.
“We have an established relationship with Clover and are pleased to have concluded both of these transactions in a very competitive market for well-maintained quality buildings on their behalf,” he added referring to the Bellville property sold last year.
Just last year, Clover pronounced that it was closing South Africa’s largest cheese factory in Lichtenburg due to ongoing poor service delivery.
In the same year, Clover’s Bellville facility in the Western Cape was sold for a staggering R50 million, according to Cushman & Wakefield Broll, which also facilitated the latest City Deep sale.
The City Deep facility, occupying 4.5 hectares in Johannesburg’s industrial centre, recently sold for R52.5 million.
BusinessTech Africa has gathered that the spacious warehouse section of the facility has a storage capacity for more than 8, 000 pallets, with 15 receiving bays and 11 dispatch bays – it also boasts weighbridges, a fuel depot, and an ammonia refrigeration plant.
Main Image: Clover Warehouse/CloverSA
