DURBAN - Inospace Property Fund has completed the acquisition of seven industrial parks in Cape Town and Johannesburg for R212 million, bringing the total value of its portfolio to over R1 billion.
Inospace Property Fund is an owner and operator of branded business parks providing conventional and flexible workspaces.
Jacques Weber, Operational Director for Inospace said, "We have been on a bold yet strategic acquisition strategy over the past 14 months, and are delighted in particular to have recently acquired Table Bay Industrial Park which will be renamed The Island".
The Cape-based property company acquired the 24,000 square metre Island Centre from Ascension Properties for R115m.
With their recent acquisition from SA Corporate Real Estate, the 18-month old company has become the largest property owner in Paarden Eiland, which is one of the country’s most valuable industrial suburbs.