Trustco, W&B close major property transaction

Tujoromajo Kasuto

Trustco Properties has concluded a major property transaction with Namibian retail giant, Woermann, Brock & Co.
The 128-year-old legendary Namibian trader, today well known as Woermann and Brock, is a 100% Namibian owned retail and wholesale group, which offers employment to more than 2,000 Namibians and has supermarkets, wholesalers and liquor stores across the country.
Trustco Properties forms part of the real estate investment portfolio of Trustco Group Holdings Ltd (Trustco), one of Namibia’s largest investment groups.
Neville Basson, Trustco’s spokesperson, says this transaction concludes the investment Trustco Properties has made in Extension 3 of Lafrenz Industrial Park, as these were the final serviced industrial erven that were available. “Since Trustco’s investment in the Lafrenz industrial development in 2004, through Trustco Properties, the industrial development of that area of the capital has seen significant growth and brought various services closer to the people creating thousands of temporary and hundreds of permanent job opportunities over the years,” he says.
The Lafrenz Industrial Park is ideally situated on the northern outskirts of the capital of Namibia, Windhoek, about seven kilometers from the city centre. This development is a natural westward expansion of the already established Lafrenz industrial area.
“It is an encouraging sign for economic activity in Namibia that the demand for industrial land is again seeing an uptake, as it is a leading indicator of GDP growth,” says Trustco Properties Chief Executive Officer (CEO), Le-Hugo van Rooyen.
Basson adds that to ensure sufficient industrial services are available to businesses, Trustco Properties will continue to develop and service the remaining land in Extension 2 of Lafrenz Industrial Park.
There are currently eleven (11) fully serviced erven in Extension 2 and further development will avail an additional 58 erven.

By Observer