Spear REIT to build R90m national distribution centre for Mambos in Cape Town
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Western Cape-focused REIT Spear has signed a long-term agreement with retailer Mambos Storage & Home to develop a 7,150m2 flagship distribution centre in Blackheath, Cape Town, at a cost of about R90 million.
Western Cape-focused real estate investment trust Spear REIT has concluded a long-term agreement with Mambos Storage & Home to develop the retailer's flagship 7,150 square-metre distribution centre in Blackheath, Cape Town. Development works began on 1 August 2026, with completion anticipated in mid-2027 at a development cost of about R90 million.
Mambos has grown into one of South Africa's leading retail and wholesale distributors of storage, homeware and related lifestyle products and currently operates 22 stores nationwide, with plans to expand its national footprint. The new facility will provide additional warehousing capacity, improved logistics functionality and upgraded operational infrastructure, and will also house the company's head office and supply chain operations.
James Bylos, head of leasing at Spear REIT, said the project reflects the value of long-term tenant relationships and a clear understanding of where the tenant's business is headed. "Businesses should not be constrained by the space they occupy. As operational requirements evolve, our objective is to ensure our properties evolve with them," he said.
Demetre Nikolopoulos, chief executive of Mambos Storage & Home, said the new distribution centre will strengthen the core foundation of the business and provide the capacity needed to respond to an evolving customer base, adding that the Blackheath property serves as both head office and national distribution hub.
Spear chief executive Quintin Rossi said the investment comes at a time of sustained demand for well-located industrial property in the Western Cape, with Blackheath benefiting from access to major transport routes and proximity to Cape Town International Airport. He said the project forms part of Spear's active asset-management strategy to unlock embedded value within its core portfolio. Blackheath continues to see heightened demand from logistics, warehousing and distribution operators, with distribution centres among the most active segments of the Cape industrial market, supported by limited availability of appropriately zoned land.