November 11 2025 18:05
SOUTH AFRICA
Heartwood Properties has launched the second phase of its high-quality warehouse development in Saxdowne in Rondevallei in the Western Cape.
The province stands out as an investment hub in South Africa and talented developers are creating prime real estate which promises strong returns for investors.
Heartwood is managed by a skilled team which can turn around developments quickly. The group boasts more than a decade of development experience and has been listed on what today is known as the Cape Town Stock Exchange, since 2018. RB & Son Transport occupy the existing warehouse which was built in phase one of the Saxdowne site.
Having developed properties around the country, today Heartwood is focused on the development of warehouses and offices in Cape Town and its surrounding areas. The company boasts a desirable track record which is why it can attract a mix of tenants and to deliver competitive returns to its investors.
There has been a notable increase in requests for warehouse development proposals in the Western Cape over the past six months. While zoned and serviced land remains in short supply, Warehouse vacancies remain at historically low levels in the province, with existing rental rates aligning more closely with new development rates. This creates a competitive environment for developers.
Phase one of the Saxdowne Warehouse
Heartwood stands out for its track record over the years and for maintaining its reputation as a trusted developer. The group is led by founder, John Whall who has worked in real estate for nearly three decades. He has always had a passion for property, having completed a BSc in Civil Engineering and then qualifying as a Chartered Accountant. Following his accounting articles at Ernst & Young, he spent just over eight years as the commercial director of Group Five’s property division. He then led Montagu Commercial Properties from 2006 to 2022. Whall listed Heartwood Properties in March 2018.
Heartwood’s team manages to develop warehouses to meet tenants’ specific needs timeously. This an advantage for dynamic companies who want to partner with a landlord who understands warehousing and other industrial property types in the burgeoning Cape market.
“We have the expertise to build quickly and for specific clients instead of having to develop on spec. It is common for a tenant to have an equity share in a Heartwood development and ultimately buy the rest of the asset later,” says Whall.
As Heartwood Properties is not a long-term holder of property assets, it’s management will sell its portfolio, consisting mainly of Western Cape warehouses, within the next three to five years and return a substantial portion of the proceeds to the company’s shareholders.
Being listed has enabled Heartwood to access pools of capital from its sophisticated shareholder base. Heartwood is refinancing its debt through Nedbank. It has led to lower interest rates and better payment temrs. As a result Heartwood is able to roll out more developments.
Currently Heartwood has secured two large warehouse developments of 8000m2, each on long leases along the N1 between Stellenbosch and Paarl. Construction is due to start in early 2026. The group is also marketing a 4000m2 warehouse in the same area. The group finds it favourable to own industrial warehouses in well-managed precincts and, where possible, it develops properties which are located next to each other.
Heartwood often enters co-ownership agreements with its tenants where each party owns a portion of the specific warehouse or office. Later a tenant might buy Heartwood’s portion and become an owner operator.
The group’s current portfolio is well-managed with a vacancy rate at less than 1% and collections at 100%.
ABOUT THE PROPERTY
The Saxdowne sectional title warehouse development is located on the corner of Saxdowne Road and Stellenbosch Arterial Road which provides excellent visibility. Each phase is a separate stand-alone warehouse with its own yard and access.
The second phase will be sized at 4000m2 and will be ready for occupation approximately five months from signature of agreement from the new tenant or tenants. Fire pumps and tanks for the sprinkler system have been constructed and are functioning. Perimeter fencing and controlled access and egress provide security.
Render of the second phase of the Saxdowne Warehouse Complex
The warehouse sits next to Abland’s upcoming 6000m² Saxdowne Shopping Centre. This development confirms that the node presents value those who invest in industrial and supporting properties.
Given the warehouse’s position in Cape Town City’s leading industrial node, the site is strategically positioned for all warehousing businesses. The proximity to the R300 road provides easy access to major arterials. The prime location, coupled with Heartwood’s dedication to sustainable design also ensures that occupiers have an ideal setting for sustained operational efficiencies.
Ideal tenants for the warehouse include successful entrepreneurs and other companies who require specialised warehouse space.
“We are excited to expand our Saxdowne warehouse with its second phase. We have amassed expertise in this specialised type of property. We pride ourselves on being a reliable landlord which a mix of strong tenants have worked with for some years. Heartwood looks to grow from strength to strength,” says Whall.
Heartwood will replicate the success of its Saxdowne warehouse over time with other industrial developments.
“We are in a position where we can provide an excellent product to our tenants. We are excited about what Cape Town and its surrounds offer in terms of industrial real estate opportunities and remain optimistic about the office market in the Western Cape,” says Whall.
Partner content for Heartwood Properties
alistair@propertyflash.co.za
Some of Heartwood Properties’ other assets:
Blue Nova Energy warehouse
Aqua-Vac warehouse
Noola warehouse
For more information, contact John Whall at: +27 82 459 5553 or at john@heartwoodprop.co.za
