Paarl
Drakenstein Municipality
Drakenstein Municipality is the most populated and urbanised municipal area in the Cape Winelands District Municipality.
TrueProp secured a majority stake in Spilo Business Park, one of the largest industrial parks in the area at 27,000m².
• And here’s the kicker: 777,211m² of industrial development is currently in the pipeline. Using conservative estimates, that’s R5.8 billion in potential investment. This is not small-town growth. Drakenstein Municipality is the most populated and urbanised municipal area in the Cape Winelands District Municipality. This is a city flexing its muscles as the economic hub of the Cape Winelands. Investors are watching Institutional capital isn’t missing the party either. Just recently, TrueProp secured a majority stake in Spilo Business Park, one of the largest industrial parks in the area at 27,000m². This strategic acquisition marks just one of the many projects and investments that the company has undertaken this year. Spilo Park has always been a barometer of demand in Paarl, and this acquisition signals just how bullish investors are on the region’s growth. TrueProp is no stranger to the Paarl area. Established in 2007, they are a privately- owned property investment company with their head office located in Stellenbosch and regional offices in Rosebank and East London.
also made its first foray into Paarl with the acquisition of Berg River Business Park – a 30,000m² multi-let park that services tenants across the food, agri, wine and clothing industries. With solar power, loadshedding redundancy, and high-capacity fibre, it’s built for resilience. Spear’s CEO called Paarl “a well-established industrial node,” and the numbers – over R182 million for the deal – prove they mean business. When listed funds and specialist landlords put money into an area, it’s usually the clearest sign of confidence you’ll get. And because most supply chains start at the warehouse, it is an even more encouraging sign for the Paarl economy when the pipeline of warehouses is increasing to satisfy high levels of industrial demand.
When it comes to their latest industrial investment in Paarl, I chatted to Simon Drinkrow – TrueProp’s Head of Growth and Acquisitions – who says: “When we initially assessed the property, we identified solid fundamentals ideal for a multi-tenant park: versatile space, adequate roof height, and dependable power suitable for various tenants. It aligned well with TrueProp’s strategy of unlocking value via strategic upgrades and conversions. Thanks to our backing, the acquisition and initial enhancements proceeded seamlessly, and we are now preparing for the next stage of modernisation over the next six months.” TrueProp is not the only player making strategic moves in the region as Spear REIT
Spilo Business Park
S pilo Business Park
October 2025 | Issue 141 | Asset Magazine 261 Cape Brewing Company Plant in Paarl
260 Asset Magazine | Issue 141 | October 2025
Made with FlippingBook Ebook Creator