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Archives for October 2025

Growthpoint’s Canopy overall winner at prestigious property awards

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Growthpoint’s Canopy by Hilton Cape Town Longkloof development named overall winner at prestigious property awards

Growthpoint Properties (JSE:GRT) excelled at this year’s South African Property Owners Association (SAPOA) Property Development Awards for Innovative Excellence, taking home three prestigious wins, including top honours. The recognition highlights Growthpoint’s leadership in shaping South Africa’s built environment through transformative, high-impact developments.

Two of Growthpoint’s recent projects were celebrated. Canopy by Hilton Cape Town Longkloof, situated in its distinctive Longkloof mixed-use development, won the Overall Best Development Award along with Best Mixed-Use Project. Thrive @ Crescent Studios in Johannesburg, won Best Student Accommodation Project.

Excellence in property development

The SAPOA Awards for Innovative Excellence recognise projects that redefine South Africa’s property landscape through design, sustainability, functionality, and positive social impact. Developments are judged across a range of categories, with winners representing the very best of the sector.

Growthpoint’s success at this year’s awards demonstrated the company’s ability to deliver projects that balance commercial value with broader contributions to their communities.

Canopy by Hilton Cape Town Longkloof: a landmark in mixed-use urban renewal

In Cape Town, Growthpoint’s Canopy by Hilton Cape Town Longkloof is a gem in the mixed-use historic Longkloof precinct on the edge of the CBD. Covering 16,500m², the project involved refurbishing five heritage buildings, selective demolitions and the addition of a new 154-key five-star hotel.

Working with dhk Architects, the development has transformed the once landlocked Longkloof site into a vibrant, mixed-use destination that integrates office, retail and hospitality. Public spaces, pedestrian walkways, retail outlets, cafés and Longkloof Square now enliven the Longkloof precinct’s street life and enhance connectivity to the city.

Growthpoint replaced surface parking with three levels of underground parking, freeing up space for urban activity and seamlessly linking the different uses in Longkloof. The project is a model of how heritage preservation and modern development can work in harmony to deliver urban renewal at scale.

The SAPOA judges recognised its complexity, design quality and catalytic impact on Cape Town’s city centre.

Thrive @ Crescent Studios: redefining student living

Located just a minute’s walk from the University of the Witwatersrand, Thrive @ Crescent Studios represents a new benchmark in student accommodation. The twelve-storey, purpose-built residence offers 871 beds across 351 well-designed apartments, providing studio, two- and three-bedroom options. Each unit features private kitchens and bathrooms, giving students apartment-style living with the comforts of independence.

Beyond its scale, the project is distinguished by the comprehensive lifestyle it offers. Students benefit from dedicated study zones on every floor, a fully equipped computer lab, and collaboration rooms to support academic focus and peer connection. Social and wellness amenities include a rooftop entertainment area, gym, laundry facilities, games room, braai areas and a multi-sport court.

The building’s thoughtfully designed interiors create a warm, modern environment where students can live, learn and grow. By integrating academic, social and lifestyle facilities, Thrive @ Crescent Studios delivers a holistic campus experience that is supportive and empowering.

A proud moment for Growthpoint

Estienne de Klerk, SA CEO of Growthpoint Properties, expressed his pride in the recognition. “Winning three awards at this year’s SAPOA Awards is a tremendous honour for Growthpoint. Canopy by Hilton Cape Town Longkloof and Thrive @ Crescent Studios both demonstrate our commitment to creating developments that add real value – not just for investors and tenants, but for the people and communities who use them every day.”

Reflecting on the Longkloof project’s dual awards, he added “The recognition of Canopy by Hilton Cape Town Longkloof as Overall Best Development is especially meaningful. The Longkloof mixed-use precinct was a complex undertaking that required balancing heritage preservation with bold urban renewal. The result is a development that invests in the heart of Cape Town, celebrates its history and creates a vibrant destination for the future.”

As South Africa’s leading real estate investment trust (REIT), Growthpoint has built a reputation for innovation, quality and sustainability. The company’s strong showing at the SAPOA Awards reaffirms its position as a leader in shaping the country’s-built environment.

De Klerk concluded “These awards inspire us to keep raising the bar in everything we do. We are committed to developing properties that respond to South Africa’s evolving needs and meet our strategic priorities, while contributing to more liveable, sustainable and inclusive cities.”

 

Growthpoint Healthcare makes strategic move into senior living

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Growthpoint Healthcare makes strategic move into senior living with Auria acquisition

Growthpoint Healthcare Property Holdings (GHPH), managed by Growthpoint Investment Partners, the fund management business of Growthpoint Properties (JSE: GRT), South Africa’s leading real estate investment trust (REIT), has entered into an agreement to acquire the properties and operations of Auria Senior Living, a premier developer, owner and operator of senior living communities in South Africa.

With property assets valued at R2.4 billion (including minority interests) the proposed transaction would initially add four Auria senior living communities to GHPH’s growing portfolio of healthcare and wellness properties, marking its formal entry into the senior living sector. The transaction remains subject to the usual regulatory approvals.

As part of the proposed acquisition, Auria will continue to operate under its current leadership team and brand, with no changes to day-to-day operations, staff or resident services. Continuity and strategic alignment are reinforced by Auria’s executives taking up shares in GHPH.

A leader in South African senior living, Auria’s current operations span three communities in Johannesburg – San Sereno in Bryanston, Melrose Manor in Melrose and Royal View in Sandringham – and Woodside Village in Rondebosch, Cape Town. The communities comprise more than 900 residents across over 630 independent living units and some 110 care centre units. It has more than 1,600 individuals on its waiting lists. Auria’s high-quality residential environments are integrated with healthcare and lifestyle amenities. Designed to promote well-being, security and independence, offer a full continuum of care from independent and assisted living to specialised support services

Auria also has a pipeline of developments, including Coral Cove in Salt Rock, KwaZulu-Natal which is scheduled to be complete and fully operational in the first quarter of 2026, as well as greenfield and brownfield opportunities that GHPH intends to commence.

As South Africa’s first fund to invest exclusively in healthcare and wellness real estate, GHPH has built a resilient portfolio of licensed healthcare facilities, including acute, day and specialist hospitals, laboratories and biotechnology assets such as pharmaceutical manufacturing and warehousing facilities. The fund’s mandate is to acquire and develop healthcare properties – whether building new facilities, expanding or upgrading existing ones or acquiring operational assets to unlock operational and growth capital for their operators. The recent expansion of its mandate to include senior living will see GHPH allocating further capital to this sub-sector.

GHPH’s portfolio includes seven operational hospitals, a pharmaceutical warehousing and distribution facility, and a medical chambers property. Its licensed healthcare assets are operated by some of the continent’s leading providers, including Netcare, Medi-Clinic, Adcock Ingram and Busamed, and feature several of the country’s top specialist hospitals, such as Cintocare, Gateway, Hillcrest and the Johannesburg Eye Hospital.

The Auria acquisition would take GHPH’s assets under management to around R6.2 billon. It already ticks all the boxes for a future IPO and stock exchange listing.

George Muchanya, Head: Growthpoint Investment Partners, says, “Senior living is an emerging institutional asset class, both locally and globally. GHPH’s focus on healthcare real estate makes it a natural investment. As South Africa’s population ages, the need for well-run, people-centred communities is expected to rise. Auria is a national leader in senior living with continuing care and aligns seamlessly with GHPH’s purpose to enable world-class healthcare and wellness infrastructure to meet the needs of South Africans.”

Fairvest leads the REIT sector into digital infrastructure

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Fairvest leads the REIT sector into digital infrastructure, enhancing its traditional retail property assets

Fairvest Limited announced more details of its R486 million strategic investment in Onepath Investments, an owner of digital infrastructure assets. Fairvest intends to utilise this investment to enhance its traditional retail properties synergistically, underscoring its credentials as an innovator and incubator for emerging property trends.

 Fairvest CEO, Darren Wilder, said: “Globally, the returns from digital assets underpin some of the best-performing REITs, benefiting from growing structural demand that is not tied to economic cycles. In addition to attractive direct returns, Fairvest’s investment provides us with opportunities to enhance the lives of communities surrounding our retail centres, opens up new areas for expansion, and allows us to engage more deeply with communities, collect data, improve our marketing efforts, and drive foot traffic to our centres.”

South Africa continues to experience an enormous increase in demand for reliable and fast internet. Fibre is the best technology for consumers to access the internet, offering a combination of speed, reliability, and low latency. However, the cost of infrastructure has historically been a limiting factor. There are an estimated 10 to 15 million homes in South African townships, with households earning less than R5 000 per month, whose internet needs are currently inadequately serviced mainly by mobile operators through more expensive and less effective connectivity.

Fairvest’s investment in Onepath Investments (OPI) has funded the acquisition of fibre and related infrastructure leased to fibertime™, a proven fibre network operator and internet service provider, catering specifically to South Africa’s township market. fibertime™’s pay-as-you-go model offers fast fibre internet (uncapped 100Mbps) for only R5 per device per 24 hours and includes free equipment and installation.  Through this investment, Fairvest, through OPI, has enabled fibertime™ to provide fast, uncapped pay-as-you-go internet connectivity to lower LSM customers and communities, helping to unlock the untapped potential of South Africa’s township fibre market. fibertime™ aims to reduce costs, enabling more people to access the internet, and in the process, help entrepreneurs build large businesses that can create job opportunities for thousands of young people in townships. In the last three years, fibertime™ has successfully rolled out affordable fibre to more than 200 000 homes in townships and low-income areas nationwide in South Africa.

Fairvest CEO, Darren Wilder, said: “The investment aligns closely with Fairvest’s core retail strategy and target market of serving low-income, high-density communities in under-serviced areas. Serving communities with cost-effective digital access and data solutions is transformative in improving educational and employment outcomes, fostering entrepreneurship, creating business opportunities, and reducing income inequality. As these communities do better, it also enhances Fairvest’s core retail market.”

 Fairvest’s announcement follows its pre-close presentation last week, where the Company lifted its guidance for annual distribution growth per B share to above 10%. Previously, the Company guided for distribution growth of 8%-10%. The increase is due to a substantial improvement in property fundamentals with positive rental reversions of 5.0% (Mar ‘25: 4.3%), and a weighted average built-in escalation of 6.7% (Mar ‘25: 6.6%). The Retail portfolio, representing 71% of the total portfolio by revenue, has demonstrated markedly lower vacancy, a strong improvement in rental reversions, and an increased WALE. The Office portfolio (18% of the total portfolio by revenue) was resilient, continuing to reduce vacancy and increase average gross rentals, while maintaining built-in escalations at 7%. Office WALE reduced modestly. Industrial assets comprise 11% of the total portfolio. Vacancy increased in the industrial portfolio, primarily due to one property; however, the portfolio demonstrated notable improvements in rental reversion, average gross rental per square metre, and built-in escalations. Fairvest’s loan-to-value is expected to be below 30.0% by year-end.

Wilder ended: “Fairvest’s traditional portfolio is positioned for solid growth. Additionally, OPI’s digital infrastructure business is well-positioned for rapid expansion. fibertime™’s potential target market in South Africa is enormous, and to date, all acquisitions have outperformed the projected take-up levels. We are excited about this investment, which has such potential, and expect its strong performance to continue.”