Linkedin-in
Twitter Linkedin-in

QUICK
LINKS

Archives for August 23, 2022

Growthpoint appoints George Muchanya as Head of Growthpoint Investment Partners

by

 

George Muchanya has been appointed Head of Growthpoint Investment Partners, the Growthpoint Properties (JSE: GRT) alternative real estate co-investment business, effective from 1 July 2022.

Growthpoint’s former Head of Corporate Finance, Muchanya holds a BSc Eng, MBA and is a graduate of the Corporate Finance Programme (London Business School) and PLD (Harvard Business School). An engineer by training, Muchanya’s career spans 25 years in engineering, investment banking and management consulting. Since joining Growthpoint in 2005, Muchanya has played a key role in implementing its strategic initiatives both offshore and in South Africa.

Growthpoint Investment Partners is a leading alternative real estate co-investment partner with R15bn of assets under management. It has a growing portfolio of niche, themed property co-investments to date that include South African healthcare properties in Growthpoint Healthcare REIT, income-generating African commercial properties (excl. RSA) in Lango Real Estate and South African purpose-built student accommodation in Growthpoint Student Accommodation REIT. These co-investments have positive, long-term socio-economic impacts, and are all subject to excellent governance and sustainability oversight frameworks.

The post Growthpoint appoints George Muchanya as Head of Growthpoint Investment Partners appeared first on Growthpoint Properties.

Octodec upgrades landmark Shoprite building

by

The Company signals its commitment to the CBD through multi-faceted enhancements to an already dominant inner-city retail and residential portfolio

JSE listed REIT, Octodec Investments Limited, today announced that it has commenced upgrading its Shoprite building in the heart of the Tshwane CBD, at a cost of just below R60 million. The facelift is a welcome boost to the existing, bustling retail trade in the CBD, and proves renewed confidence in a node which has clearly emerged stronger post the Covid-19 pandemic.

Jeffrey Wapnick, MD of Octodec, says: “With many retailers having returned to the CBD and various in-person university classes resuming, Octodec’s CBD retail assets are experiencing a renewed energy. We are thrilled to announce the news of this project, highlighting that the heart of Tshwane is still thriving and a vibrant place to be.”

The first phase will be a revamp of the 4000m² Shoprite supermarket and includes a new Shoprite Liquor and new retail shops on the ground floor. The most prominent visual element will be a triple volume entrance with escalator access from Helen Joseph Street. The escalators will lead downwards to an OK Furniture store. In addition, the project includes renovations to the Helen Joseph Street façade, including a new modern shopfront.

The second phase of the renovation will cater for more retail tenants on the ground floor and the remainder of the basement space. Negotiations are well underway with prospective tenants. Further upgrades include the pedestrian access point from Madiba Street, which will be upgraded to provide a landscaped walkway for easy access to the Shoprite store.

“We enjoy deep, mutually beneficial relationships with our tenants, who often provide great insights. It is unlikely they would invest in the CBD without a positive outlook. We are seeing these same tenants lease for longer periods which further underpins their confidence in the CBD long-term. Confidence from our tenants and improved market conditions have spearheaded growth within the CBD, which Octodec will certainly benefit from.” concludes Wapnick.

Shoprite will continue to trade during the duration of the upgrade. The project is expected to be completed in December 2022.

The post Octodec upgrades landmark Shoprite building appeared first on Octodec.

Octodec, donated 500 Dignity Packs to Unchain Our Children

by

Octodec, sister company of City Property, donated 500 Dignity Packs to Unchain Our Children

Watching a crane at City Property Pretoria lowering 500 dignity packs for boys, girls, and women into Unchain Our Children’s trailer Tuesday morning, was watching many prayers being answered in front of our eyes. Top quality personal hygiene items, soft toys, sweeties, towels, and facecloths were among the carefully selected items were packed by the staff for distribution among abused children and survivors of gender-based violence.

As statistics are skyrocketing and cases of child abuse, neglect, abandonment, exploitation, and trafficking are being reported daily, Octodec dignity pack brings joy to these survivors as they realize someone is caring enough to have blessed them with a beautiful gift of something special just for them.

Wayne van Onselen, Founder and Executive Director Unchain Our Children was invited to meet with the Managing Director of Octodec, Mr Jeffrey Wapnick. Mr Wapnick has a quest for inner city revival and rejuvenation. His management team shared with us their Change Our City For Good campaign and every story was alive with passion, enthusiasm and dedication describing their projects focussing on the upliftment of the vulnerable in our society.

“Make it Happen”, is the motto of Mr Wapnick. We were privilege to have experienced not only his dynamic business demeanour but also his sincerity and dedication to give back to the community. An accomplished entrepreneur, his vision for mid-city make-overs exceeds all expectations.

With an impressive portfolio of commercial-, industrial-, retail-, office and apartment properties in Pretoria and Johannesburg, Octodec is celebrating more than 50 years of providing beautiful spaces for living life.

The post Octodec, donated 500 Dignity Packs to Unchain Our Children appeared first on Octodec.