Global Giant IMR Secures Prime Office Space in Illovo
IMR Resources, a globally recognized partner to the international power and steel industry, continues to expand its footprint in South Africa. Known for their commitment to integrity, innovation, and sustainability, IMR operates across mining, manufacturing, and trading in natural resources, with headquarters in Switzerland and a global presence in major markets such as China, Indonesia, Mexico, and India.
As part of their strategic growth, IMR sought to establish a flagship South African office that aligned with their global brand while supporting future expansion. IMR’s South African presence, bolstered by recent acquisitions such as Sedibeng Iron Ore and PPC Lime, demanded an office space that reflected their brand and accommodated their plans for growth. Their requirements included:
- A standalone office up to 1,500m².
- A north-facing entrance, reflecting cultural considerations.
- A location in Morningside or Rivonia, close to existing networks.
Over the course of a about a year, Kingsley, a commercial property consultant at Galetti, conducted over 20 viewings, canvassed the area extensively, and explored both on- and off-market opportunities to meet these unique requirements.
The Solution: An Off-Market Opportunity
The search ultimately led to a breakthrough in Illovo, an area renowned for its corporate appeal and home to other mining giants like Anglo American and Impala Platinum. Kingsley identified a fully tenanted standalone property that was not initially on the market.
The property was ideal for IMR, offering space for immediate operations and room for future expansion. However, the deal required complex negotiations for some of the tenants who held long-term leases. Nevertheless, IMR was able to take full occupancy by February 2025. This new property in Illovo signifies more than just a relocation—it represents a commitment to long-term growth in South Africa. The space not only aligns with their global standards but also positions them strategically among industry peers.
Why Illovo?
While the original search focused on Rivonia and Morningside, Illovo emerged as a strategic choice. The area’s property values have demonstrated strong resilience, making it an attractive investment. Additionally, its proximity to key business hubs and its reputation as a base for mining and energy companies positioned it as the ideal location for IMR’s new South African headquarters.
Market Insights: Ownership Over Leasing
IMR’s decision to purchase reflects a growing trend among businesses in Johannesburg. Companies are increasingly moving away from leasing in favor of owning, capitalizing on favorable market conditions to secure standalone properties that can be customized for their needs. Illovo and surrounding areas, with competitive property prices and strong long-term value, offer prime opportunities for businesses looking to invest.
Need assistance with your commercial property requirements, contact Kingsley: kingsley.martell@galetti.co.za / +27 82 442 6444
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