Growthpoint Properties (JSE: GRT) has concluded a deal with leading book publisher Penguin Random House to consolidate and relocate its offices and distribution centre to 3,657sqm of upgraded business space at Growthpoint Business Park in Midrand, Gauteng.
Penguin Random House is a longstanding Growthpoint tenant. In a seamless transition, it is relocating its offices from 800sqm of space in Growthpoint’s Rosebank Office Park to 1,428sqm of office space at Growthpoint Business Park. At the same time, it is moving its distribution centre from Pretoria into a cost-effective, efficiency-boosting, high-profile 2,229sqm warehousing unit at Growthpoint Business Park. The warehouse enjoys pride of place with excellent highway frontage on the major N1 highway.
The brief from Penguin Random House for its new premises focused firmly on functionality. The leading book publisher wants its premises to support as broad a range of bookselling as possible so that people can easily access the content they need and enjoy. This is precisely what its new warehouse will achieve, making it much easier for Penguin Random House to distribute their titles, booksellers to receive the stock they need, and readers to enjoy their books.
“Penguin Rand House South Africa is excited to relocate our Johannesburg and Pretoria operations to the new, centrally located base in Midrand. In the new world of hybrid work models, we have taken the decision to combine all Gauteng operations together, rationalise office space and increase our distribution capacity. Growthpoint have provided us with a well-designed, safe and accessible home in which to expand our operations in the Highveld.” PRH CEO, Steve Connolly.
Growthpoint has invested R12 million in an extensive overhaul and modernisation of the premises, inside and out, to prepare the new premises for Penguin Random House’s occupation on 1 July 2021.
Errol Taylor, Head of Asset Management: Industrial at Growthpoint Properties, remarks, “Penguin Random House is a great business partner that we are proud to accommodate in the Growthpoint portfolio. We have created a beautiful new home for them that also offers them real value and supports the effective operation of their business.”
He adds, “By working closely with our tenants to understand their businesses, we can nimbly give them the right space for their business to thrive and accommodate them in a wide range of spaces across Growthpoint’s vast office, industrial and retail portfolios. We are cognizant that the market is very price sensitive at the moment, and that any relocation should come with minimal business downtime. So, we invest our time, resources and focus on achieving this with our clients to craft sustainable deals that work well for all involved.”
The new Penguin Random House premises showcases the advantages of modernising, upgrading and reinventing older industrial units to create attractive contemporary business space that is also budget friendly.
In fact, Growthpoint sought to lighten the environmental impact of the entire upgrade project in several ways, including reusing non-renewable resources. The canopy steelwork of the distribution centre building, for instance, has been cleverly incorporated as the frame for the new façade. New landscaping is being designed around the buildings and LED lighting and energy-efficient air-conditioning will be installed, which reduces water and electricity consumption and costs.
“Our investment in Growthpoint Business Park for Penguin Random House is one that we are happy to make. It is an exceptional business location with all the benefits of an older, well-established park that is undergoing major rejuvenation throughout, which will put it at the leading edge of quality, affordable, business-friendly addresses for decades to come,” notes Taylor.
Growthpoint Business Park is set in tranquil surroundings with free-standing buildings – both offices and warehouses. The park boasts lovely dams and koi ponds, enjoyed by geese and ducks. It has good security and ample parking. Close to the N1 highway, it features superb highway visibility with good access to major road routes and Gauteng’s central airports. It is well served by the Gautrain station and various public transport routes. The park has generator backup systems and a continual water supply. Growthpoint Business Park is home to leading businesses like LG, Electronics, Avroy Schlain, Fresenius Kabi, and now Penguin Random House.
