It will consolidate the retailer’s Longmeadow distribution centre and three smaller facilities
Pick n Pay and partner Fortress Reit are developing a new distribution centre, Eastport, in Gauteng to consolidate the JSE-listed retailer’s Longmeadow distribution centre and three smaller facilities.
The distribution centre, scheduled for completion in 2023, will cost about R2bn, including land and construction, with Pick n Pay’s 60% share estimated at about R1.2bn. Pick n Pay has secured long-term funding at a competitive interest rate to fund the purchase, it said...
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