Pick n Pay developing R2bn Eastport distribution centre
It will consolidate the retailer’s Longmeadow facility and three smaller ones
Pick n Pay and partner Fortress Reit are developing a new distribution centre, Eastport, in Gauteng to consolidate the JSE-listed retailer’s Longmeadow distribution centre and three smaller facilities.
The distribution centre, scheduled for completion in 2023, will cost about R2bn, including land and construction, with Pick n Pay’s 60% share estimated at about R1.2bn. Pick n Pay has secured long-term funding at a competitive interest rate to fund the purchase, it said...