Thynk Retail Park on the N2 near Durban
Durban’s first Builders Warehouse opened last month at Thynk Retail Park in Riverhorse Valley, a premier, home improvement/interior décor themed retail park developed by Cape-based Thynk Property Fund.
Leon Quenet ,a director of Thynk Property Fund, says Riverhorse Valley Business Estate has excellent exposure to the N2 Freeway and is just off the Queen Nandi Drive Interchange below the newly built EThekwini Private Hospital.
Riverhorse Valley Business Estate was a joint development initiative between Tongaat Hulett Development’s and the EThekwini Municipality. It is a multi-discipline business estate on the N2 between the Durban Port and the new King Shaka International Airport. It contains nodes for retail and offices, high-tech industry, light and service industry and warehousing as well as a private medical hospital.
The complex will have a total gross leasable area of more than 15 000m² when completed. Thynk Property Fund acquired the 4.5 ha green fields site from Tongaat Hulett Developments in 2008 with the vision of developing a big box retail park. NMC was appointed as construction partner for the project with a total project development cost of R100m.
“Builders Warehouse, which is our complex’s anchor tenant, is an 8 000m2 one stop state of the art DIY Big-Box retail outlet, which will also have a garden centre and a standalone coffee shop,” says Quenet. “There is ample secure on-grade parking and we have consolidated the site next door to provide additional parking. This is the 25th fully fledged Builders Warehouse outlet in the country. Builders Warehouse is part of the Massmart Group of companies, and also trade under Builders Depot and Builders Express with about 100 stores throughout Southern Africa.
“Other tenants include a 2 000m2 retail outlet for Cecil Nurse Business Furniture, which is the largest supplier of business furniture solutions in Southern Africa, as well as Smartstone, g manufacturer of cast stone paving, tiling, cladding and landscaping products and other complementary tenants.”
Quenet says Thynk is still looking for quality tenants for the remaining mini units that range in size from 280m2 to 550m2. The premises are air-conditioned showroom spaces with high spec lighting, and a mezzanine level that can be used as office space.
Quenet Corporate Property has been appointed as Thynk’s property managing agent for Thynk Retail Park. Call 021 788 3258.