Logistics Group reinvest in emerging industrial node of Pomona
Category Industrial Property News
OneLogix, specialised logistics group, have acquired a new 2-hectare property, adjoining their original facility in Kempton Park’s secondary industrial area of Pomona.
OneLogix has been operating for over 27 years and the respected company offers logistic services in several countries in Southern and East Africa, including Namibia, Mozambique and Botswana. Among its many accolades, OneLogix was named JSE AltX’s top performer in 2010.
The new property attained by OneLogix sits conveniently alongside the company’s current 10ha property in Pomona, on Tulbagh road. The property has an ideal location- being on the western end of Pomona, making it closer to Kempton Park’s centre and with easy access to the R21. There are also useful facilities such as a BP petrol station and various retail outlets within close proximity. Prominent companies neighbouring OneLogix include Tile Africa, DCB Logistics and Dachser SA.
Ian Lourens, chief executive of OneLogix, commented that an additional R10m had been allocated in order to revamp OneLogix’s new property acquisition, which was previously agricultural land. Upgrades made by OneLogix to the property include putting down tar roads, building carports and improving the office spaces on site. The developments, which started in February this year are nearly complete and the expected completion date is approximately at the end of July.
The funds for the acquisition of their new property were obtained by the company’s sale of 49% of its shares in DriveRisk, as well as the sale of one of its key properties in Umlaas Road, KZN. The profit of the Umlaas Road sale was R16.8m. Operating profit by the company also jumped by 14% from May to November last year, which assisted in the revenue required to purchase the new property. Lourens said that the increase in revenue was due to a strong, growth strategy and was completely organic in nature.
Currently the OneLogix Pomona facility has the capacity to store a total of 3500 vehicles, and the new property should allow for a vast increase in that number. Lourens said that the increased space was encouraged by customer demand and that the new property had not been acquired with the hope of an increase in customers wanting to store vehicles with them.
On top of offering further vehicle storage opportunities, OneLogix hopes to use their new space to increase customer service amenities for the company’s many valued patrons.
Following the announcement of OneLogix’s new property, shares in the JSE-listed company skyrocketed. In the past year OneLogix’s share price has risen from 271c to 440c, with the growth being relatively stable over recent months. This is according to data on ShareNet’s site.
The continued growth of OneLogix’s Pomona facility has added affluence to the emergent industrial suburb. Pomona has received many international and domestic investments in recent years and is on track to become Kempton Park’s next key industrial zone. With kilometres of vacant land, there is much opportunity for growth in the area. API Property Group, industrial property specialists, currently have over 30 prime industrial spaces listed in an array of prominent industrial parks in Pomona.
With exciting developments and many prominent businesses in the Pomona area, there is no better time to invest in the thriving suburb than today. If you are interested in relocating your business premises to the flourishing industrial suburb of Pomona, contact an API Property Group broker for information on current industrial property opportunities in the area.
Author: API Property Group