Inospace acquires 8th park, Marine Works
Inospace has expanded its Cape Town footprint with its eighth acquisition in 2025, a 5 700m2 site in Auckland Street, Paarden Eiland, just off Marine Drive. The property will be redeveloped and rebranded as Marine Works, a hub for micro-warehousing, storage and flexible workspace.
The company has been building a cluster of logistics and warehousing sites, often leveraging the area’s proximity to the CBD, port, and growing urban nodes.
“Paarden Eiland has experienced significant growth in both rental and capital values,” says Rael Levitt, CEO and founder of Inospace. “With rental increases of around 15% per year, extensive redevelopment activity, and rising demand from e-commerce and logistics operators, it has become one of Cape Town’s leading industrial corridors. We have done well in the area and continue to seek new opportunities.”
Inospace’s strategy follows the same model it pioneered at the nearby Island Works Park where traditional industrial space was repositioned into flexible ecosystems. At Island Works, the group piloted its fulfilment and outsourced warehousing services, giving small businesses access to pick-and-pack operations, courier aggregation and last-mile logistics without the cost of running their own warehouses.
“There’s a voracious demand for smaller logistics-enabled spaces. SMEs don’t want 10 000m² on long leases. They want 100m² to 150m² units where they can operate quickly and efficiently. By adding fulfilment and outsourced warehouse services, we’re helping them grow faster and smarter,” he says.
The Marine Works acquisition follows strong half-year results. For the six months ended 30th of June 2025, Inospace reported a 12% year-on-year increase in revenue and double-digit growth in net operating income. Its R3 billion portfolio recorded 92% occupancy, with many parks in logistics corridors running at full capacity.
The company’s tenant activity remains robust with 142 new leases signed in Q2 2025 alone and more than three-quarters of space taken up by existing tenants expanding or renewing.
