The company plans to redevelop various properties in Midrand, including its head office, to create a better functioning, fit-for-purpose campus. Moneyweb FamousBrands
JSE-listed restaurant franchisor Famous Brands is set to acquire Steers Properties and Halamandaris Property as it pursues expansion plans in Midrand that align with its supply chain objectives. In a Sens statement issued on Tuesday, the company noted that Midrand remains the most suitable centre of gravity for its Gauteng logistics operation and that it has developed a plan to expand its head office at 478 James Crescent, which it has leased from Steers Properties since 1990.
Read: Famous Brands reports triple-digit FY profit surge Wayne McCurrie, economist and portfolio manager at Ashburton Investments, says the Gauteng logistics campus could achieve significant results, but only if the company establishes a highly functional centre. “But the big reason I believe they made the announcement is because they want to make clear that they are buying from people who are part of the company,” he adds.
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