Leading property investor and developer Atterbury has broken ground for the new home of sustainable technology company Solar MD at Richmond Park in Cape Town.
The facility will serve as the consolidated headquarters for Solar MD, allowing the company to streamline its operations and meet the increasing demand for energy storage solutions through a 10-year triple net lease agreement.
Once completed, Solar MD’s new home, totalling 12,500sqm, will comprise a sizeable 10,250sqm warehouse, 2,200sqm of office space, and a 250sqm showroom.
A Sod-turning ceremony took place on 15 August to mark the commencement of bulk earthworks and was attended by Alderman James Vos, the Mayoral Committee Member for Economic Growth at the City of Cape Town, along with other members of his team. Construction will commence in November 2023. The facility is anticipated to be finished and ready for occupation by mid-2024.
“We are incredibly proud to welcome Solar MD to Richmond Park. We are looking forward to continuing working with the Solar MD team to bring their vision for a bespoke facility where business and environmental responsibility are woven seamlessly together,” notes Gerrit van den Berg, Head of Developments: Western Cape at Atterbury Property, which is developing Richmond Park on behalf the property’s shareholders, including Old Mutual.
“We look forward to construction commencing and to eventually take occupation of the facility at Richmond Park. The property represents an exciting new chapter for the business with an opportunity to scale our operations accordingly and continue delivering leading-edge energy storage solutions. As we embark on this journey alongside Atterbury, we are confident that our new headquarters will mirror our ethos and accommodate our growth strategy,” says Kaloyan Dimov, CEO and founder of Solar MD.
Solar MD’s headquarters will be located in the Southern Precinct of Richmond Park, adjacent to Rubicon, Takealot Pickup Point and in close proximity to WeBuyCars and Brights.
Mia Kitshoff, Atterbury Leasing Manager for the Western Cape, says, “Breaking ground on Solar MD’s new head office is an exciting milestone for Atterbury and Solar MD. It’s not simply a property we’re developing, but a testament to a shared commitment to assist with the current energy crisis and create an enabling environment for businesses.”
The development for Solar MD takes Richmond Park closer to completion. It is now 70% developed with 100,000sqm space available, which is ideal for distribution companies. Atterbury has also earmarked an infrastructure spend of approximately R20 million to unlock an additional 25,000 sqm of bulk.
Richmond Park is consistently growing in popularity with businesses, employees and shoppers alike. In addition to Takealot, Rubicon, WeBuyCars and Brights, the Park has already attracted leading names, including Aramex, Cape Fruit Coolers, CTM, Mustek, Scoop, ACDC Dynamics, Sequence Logistics, get Worth, Zest WEG Group and the landmark Richmond Corner convenience centre.
One of Richmond Park’s many drawcards is that it boasts excellent transportation access, soon to be further enhanced. Easily reached via N1 and N7 highways, it connects efficiently to Western Cape’s logistic network and inland routes. The upgrade of the Refinery Interchange is set for completion in February 2024, improving east-west traffic flow with a new dual carriageway and pedestrian bridge.