Inospace Repositions Wadeville Asset into Flexible Multi‑Let Park for SMEs

The acquisition strengthens Inospace’s foothold in Gauteng’s industrial heartland and adds to a national portfolio that now spans more than 50 business parks serving over 2,100 small and medium-sized enterprise (SME) tenants across Cape Town and Johannesburg.

“Charron Park is exactly the kind of asset that fits our strategy,” said Rael Levitt, Founder and CEO of Inospace. “It is well located, it serves a real economic engine, and it gives smaller businesses access to quality industrial space on flexible terms. That is what we do. We take well-positioned industrial property and turn it into space that works for the SMEs driving this country forward.”

The purchase is also a statement of intent. At a time when sentiment toward Johannesburg commercial property remains cautious, Inospace is moving in the opposite direction.

Wadeville is one of Johannesburg’s established industrial nodes, offering direct access to major arterial routes and proximity to the broader Germiston logistics corridor. The park will be repositioned under the Inospace model, which converts traditional single-tenant industrial assets into flexible, multi-let environments tailored to the needs of growing businesses.

"The noise around Johannesburg doesn't match what we see on the ground,” continued Levitt. “Industrial demand is real, occupancy is strengthening, and the city's economic backbone is holding. We've always believed that conviction, paired with active management, is how you create value in this market - and this acquisition is an expression of exactly that."

Charron Works is not Inospace’s first move in Wadeville. The park sits in close proximity to the existing Inospace Wadeville Works, acquired in 2021, giving Inospace two assets in the same node. Occupancy rates across the Johannesburg have strengthened meaningfully over the last six months - a signal that demand for well-located, right-sized industrial space is broadening, not narrowing. With a diversified tenant base, Charron Works is well-positioned to capture that momentum.

“Demand across the East Rand node has strengthened over the last six months,” commented Justin Stewart, Asset Manager for Inospace, “and the market is moving in our favour. But the real story is here 32 tenants running their businesses from this park. We’re not just buying a building we are providing a destination for these businesses to thrive.”

The acquisition forms part of Inospace’s broader growth trajectory as it scales its multi-let industrial and self-storage platforms. The company has built its position by identifying underutilised industrial assets and unlocking their value through active management, branded park environments, and a tenant base that ranges from light manufacturing and logistics operators to storage and trade businesses.

Inospace will commence its standard repositioning programme at Charron Works, including infrastructure upgrades, signage, and the subdivision of space to accommodate multi-let configurations. The park will be integrated into the company’s national leasing and management systems, giving existing and incoming tenants access to Inospace’s full-service offering.

About Inospace

Inospace is South Africa’s largest privately owned multi-let industrial property company, operating more than 50 industrial, logistics and storage parks with over 2,100 SME tenants across Cape Town and Johannesburg. The company specialises in converting industrial assets into flexible, branded, multi-let environments, and operates a growing self-storage platform under the Inospace Storage brand.

www.inospace.com