Nedbank's R45m in Jet Park Development

EmailEmail Print Share
News24 marketing banner

12 Dec 2012

Nedbank adds value to the established and thriving commercial area of Jet Park near OR Tambo Airport in Johannesburg with a R45 million loan to GRWJET Park Investments (Pty) Limited for the development of office and warehouse facilities.

Nedbank adds value to the established and thriving commercial area of Jet Park near OR Tambo Airport in Johannesburg with a R45 million loan to GRWJET Park Investments (Pty) Limited for the development of office and warehouse facilities.

The proposed construction will offer 1 734 square metres of offices/showroom, 4 849 square metres of warehouse workshop, 12 890 square metres of concrete hardstand and 10 000 square metres of crusher parking area with 46 parking pays.

Construction has commenced and should be completed by June 2013.

The property is located on the corner of Denne and Saligna Roads in the Jet Park/Hughes Precinct, Boksburg with excellent exposure to the N12 freeway.

Richard Thomas, regional executive at Nedbank Corporate Property Finance says that this is a very popular area as it is situated in close proximity to OR Tambo Airport with many national and international firms being represented in this node.

GRW was started in 1989 when Gerhard and Wentzel van der Merwe started a transporting business. 

They manufacture tankers for the transport of liquids, chemicals and hazardous materials and have plants in Kraaifontein Industria, Worcester and Johannesburg with clients including Unitrans, BP, Parmalat and Spoornet.

GWR contracts to all the major industries and has expanded operations to the UK due to demand on the continent with the company being able to provide to the European Union standard.

Their business attracted the attention of the PSG Group which bought a minority share in the holding company – GRW Holdings – through their private equity vehicle Paladin Capital, now called PSG Private Equity.

Shareholders in GRWJET Park Investments include GRW Properties (Pty) Ltd and FQGRW JHB Investments (Pty) Ltd. GRW Properties is the property investment arm of the GRW Group with the shareholders being four family trusts.

These same trusts also own shares in the group holding entity, GRW Holdings. FQGRW JHB Investments is a joint venture between Leon Quenet’s family property investment vehicle Quenet Capital and his British investment partners, Folkes Holdings.

The GRW Group is a strong and growing business, is renowned for its engineering excellence and runs its award-winning business out of Worcester. Quenet also hails from Worcester and has a good relationship with the GRW Group.

Folkes and Quenet have been in partnership for several transactions with a good, solid track record.

The Folkes group hails from the UK with their main business being in commercial property investments in the UK and as a provider of mezzanine finance to third parties in South Africa.

The group owns assets in industrial, commercial and retail property to the tune of 186 000 square metres of commercial property in the UK and 74 000 square metres in retail property in SA, explains Thomas.

The development team, Abbeydale Building & Civils, has a strong reputation in the property industry with 20 years' construction experience.

They have constructed warehouses in the last five years for heavyweights such as Unilever, Massmart and Pepcor.

Quenet Corporate Property has been appointed to oversee and coordinate the entire development process.

“We are proud to be in partnership with an industry-leader like the GRW Group.

“The proposed development will add great value to an already well-known and flourishing commercial area and Nedbank remains committed to the industry and will continue to invest in platforms of this stature,” adds Thomas.

Similar Articles

A new flexible co-work facility, One Chadwick Co-Working...

The Amdec Group handed over a cheque for R250k to the...

As tough economic conditions continue to take their toll...

View all articles

Top Articles

Investing in three different types of lighting for your...

Buyers are willing to pay a premium for homes near top...

Teams in the Six Nations Championship will be battling it...

View all articles
Top Articles
08 Feb 2016
Cape Town’s Atlantic Seaboard, CBD and City Bowl property is sizzling, w...
08 Feb 2016
A new 148-room City Lodge Hotel has opened at Newtown Junction, in the g...
08 Feb 2016
For Gauteng home buyers seeking a central location, Noordwyk in the hear...
07 Feb 2016
Lifestyle farms tucked away in the Western Cape’s Ceres area offer buyer...
06 Feb 2016
Located between Cape Town and Cape Point, Hout Bay offers investors a wi...
Get the latest property news.
Select your options:

Your browser is out of date!

It looks like you are using an outdated version of Internet Explorer.

If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.

For the best browsing experience, update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.

Please contact our Property24 Support Team for further assistance. Tel. +27 (0)861 111 724