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Unlisted property group Inospace has expanded its Gauteng footprint after acquiring Charron Park, a 21,497m² industrial complex in Wadeville, Germiston, which will be rebranded Charron Works as it is folded into the group’s national platform.
The deal, valued at about R33.5m, strengthens Inospace’s positioning in Johannesburg’s industrial heartland and lifts its portfolio to more than 50 business parks serving more than 2,100 small and medium enterprise (SME) tenants in Cape Town and Johannesburg, underscoring the group’s continued bet on last-mile logistics demand despite subdued sentiment in the broader commercial property market.
“Charron Park is exactly the kind of asset that fits our strategy. It is well located, serves a real economic engine and gives smaller businesses access to quality industrial space on flexible terms,” said Inospace founder and CEO Rael Levitt.
He said the acquisition reflects a contrarian but deliberate view on Johannesburg’s industrial outlook. “The noise around Johannesburg doesn’t match what we see on the ground. Industrial demand is real, occupancy is strengthening and the city’s economic backbone is holding,” he said.
Wadeville, part of the broader Germiston logistics corridor, remains a key industrial node with strong arterial connectivity. The park hosts 32 tenants and will be repositioned under Inospace’s multilet model, which converts traditional single-tenant assets into flexible, subdivided units for SMEs in logistics, manufacturing and trade.
The acquisition adds further momentum to Inospace’s strategy of unlocking value in underutilised industrial property through active management and SME-focused flexibility. The group has increasingly positioned itself as a disruptor in the industrial leasing market, repurposing traditional warehousing into flexible, multilet spaces that allow small businesses to operate with the efficiency and structure of larger corporates without the constraints of conventional single-tenant industrial models.
Asset manager Justin Stewart says demand trends in the East Rand are improving, noting that the market is moving in their favour. He said the key story is the presence of 32 tenants already operating from the park, saying the acquisition is not just about buying a building but about providing a destination for these businesses to thrive.
Since its founding in 2017, the group has expanded its portfolio to 52 properties, with a total value of R3.2bn, anchored in small-business industrial and last-mile logistics hubs.
Noxolo Majavu
www.businessday.co.za
