The Benoni Multipark story

Building trust, creating value: the Benoni Multipark story

Burstone acquired Benoni Multipark, a 45,000m² industrial complex in Eastern Gauteng in 2011. Fifteen years later, the numbers tell a great story:

• Total return of 25% (IRR) since ownership in 2011

• Asset value increased by 5x

• WALE up from 0.9 years at acquisition to 7.5 years today

Behind those numbers is a client partnership that shaped every phase of the redevelopment and delivered as much value to the client as it did to the asset.

It began with a 10,000m² unit left vacant after a pallet manufacturer entered business rescue. In2food needed a modern, food-grade production facility, and could not see how the space would ever meet its needs.

“When we first walked the building, it was essentially a shell,” recalls Marco Cibrario, General Manager of In2food’s Benoni operation. “We chose Burstone because they didn’t just show us a building. They brought the construction and design expertise to transform it. In the end, we weren’t committing to what the building was. We were committing to what Burstone could deliver.”

Working with architects, engineers and designers, Burstone rendered the transformed facility, then delivered it: cold rooms, hygienic finishes, strict segregation of flows and room to scale. In2food signed a long-term lease.

“Instead of retrofitting compliance, the building was aligned with our requirements from day one,” says Cibrario. “The space supports the business rather than constraining it. It lets us run efficient, safe and scalable operations as we roll out our growth strategy.”

The success of the first project led to the second. When In2food’s Snacks division needed space, vacant land on the former pallet yard carried sufficient development bulk for a new build, and Burstone delivered a bespoke facility.

“Discussions were framed around ‘How do we make this facility work for you over the next 10 to 15 years?’ rather than ‘How do we sign this lease?’” says Cibrario. “We see Burstone as a strategic property partner, not just the owner of a building.” Burstone also reinvested across the wider park, adding a new gatehouse, resurfaced roads and a full repaint that tied the redevelopment together.

“It’s about cultivating long-term relationship capital,” says Burstone’s Asset Manager Daniel des Tombe. “That starts with putting yourself in the client’s shoes and showing commitment to adding value to their operation.”

What was once an underutilised legacy site is now a high-performing industrial asset with a client continuing to grow into it, one of many examples of Burstone’s blueprint in action.