Growthpoint Rebalances its South African Portfolio

 

By Fred Felton | Feb. 11, 2026

Growthpoint Properties (JSE: GRT) has successfully rebalanced its SA portfolio with two property deals that reduce its exposure to Gauteng and unlock around R2bn in capital to go into its strategy to target higher-performing regions and sectors.

One of the Growthpoint properties 29 Richefond Circle in Umhlanga which features a roof-top garden.  Photo: Fred Felton

Two transactions have been agreed between Discovery and the current co-owners of the Discovery buildings at Sandton Summit, Growthpoint and Truzen 114 Trust, which hold 55% and 45% respectively.

For the bigger transaction, Growthpoint will sell its stake in the Discovery head office, or Discovery Phase 1, to Discovery in a cash transaction with proceeds of R2.3bn. Growthpoint’s 55% stake in the building equals to 50,466m², which was valued at R2.2bn at the end of Growthpoint’s most recent financial reporting period, 30 June 2025. Truzen will sell its 45% stake to Discovery.

Growthpoint is also acquiring Truzen’s 45% stake in the adjacent Discovery Phase 2 at an attractive, market-aligned consideration of R323 million. The 19,369m² multi-tenant building was fully let on 30 June 2025.

Once these transactions are finalised, subject to conditions including approval from the Competition Commission, each building will be 100% owned by its respective owner – Discovery will wholly own Discovery Phase One and Growthpoint will be the sole owners of Discovery Phase 2 – on a sectional title basis.

Growthpoint’s domestic strategy is to increase portfolio weighting towards sectors and regions expected to delivery better growth over the longer term, specifically retail and logistics properties.

Estienne de Klerk, SA CEO of Growthpoint Properties. Photo: Supplied. 

One only has to look at its property portfolio in KwaZulu-Natal to see the wide range of premium properties that it has which include: Lincoln on the Lake, Mayfair on the Lake, The Boulevard, Gateway Hospital, Ridgeview, La Lucia Mall, Westville Mall and even Student Accommodation at UKZN like Hluma Studios – UKZN – Howard College Campus which is scheduled for opening in 2027. Growthpoint also has properties in Hillcrest area like Busamed – Hillcrest Private Hospital, Hillcrest Corner, Watercrest Mall and Trade Park in Mount Edgecombe and more developments being built in the Cornubia area.

‘’Effective capital rotation is a balancing act. We continually review the portfolio to identify where it makes sense to reduce overweight positions and sell assets attracting investor demand to fund our strategy and add value. In this case, the Discovery Head Office was identified for disposal despite its P-grade quality and blue-chip tenant,’’ noted Estienne de Klerk, SA CEO of Growthpoint Properties.

These combined transactions reduce Growthpoint’s office concentration in Gauteng and Sandton by more than 30, 000m² to a more appropriate level, realise value and unlock almost R2bn which can be used for further strategic asset rotation. This enables Growthpoint to manage its portfolio weighting responsibly while keeping overall portfolio quality.

With 100% ownership of the P-Grade Discovery Phase 2, Growthpoint increases its exposure to potential upside from shorter-lease, multitenant offices in a market where rental conditions are firming. Multitenant offices also offer more diversified income and less letting risk.

Growthpoint will continue its long-standing relationship with Discovery as a tenant at Discovery Phase 2 and elsewhere.

‘’These transactions are a vote of confidence in Sandton, its office market and its blue-chip tenants, all of which Growthpoint will continue to invest in at suitable levels. Discovery Phase One has attracted a significant investment from Discovery. With our 100% investment in Discovery Phase Two, Growthpoint retains an appropriate presence in the Sandton Summit precinct, where we are also due to break ground on the R1.2 billion Olympus Sandton residential development with Tricolt later this month,’’ noted de Klerk.

The financial effects of the transaction will be reported in the results for Growthpoint’s six months ended 31 December 2025, which will be published on Wednesday, 11 March 2026. The transaction will have no impact on these interim results. The transactions are expected to have little, if any, effects during Growthpoint’s financial year to 30 June 2026.

According to Growthpoint once final, the transaction will result in a higher reported office vacancy percentage, as a large, fully let asset is removed from its portfolio.

EThekwini Municipality Debt Relief Programme

 

By Fred Felton | Feb. 24, 2023

There is still time for eThekwini Municipality customers to take advantage of the debt relief programme which is offered by the City.  

There is still time to take advantage of the City's debt relief programme. | Photo: Supplied

The Debt Relief Programme makes sure that customers can settle their outstanding debt and all interest accrued will be reversed. This programme is ideal for customers whose debt is 90 days and longer.

EThekwini Municipality and the customer will enter into an agreement with a plan of payment that doesn’t exceed 36 months and is based on the customer’s affordability.

So far over R119 million has been collected from instalments paid through the previous debt relief initiative.

‘’We have responded to the plight of customers who have requested an extension of the programme. We are aware of the financial difficulties that many customers face due to recent disasters experienced in the City and the current tough economic situation. As a caring City we do as much as we can to assist our customers,’’ said Ms Lindiwe Khuzwayo, Head of Communications, eThekwini Municipality.

Customers are required to put a down payment of five percent down for residential customers and 10 percent is required for business customers of the total debt. This amount will be payable up front.  Historical interest that has been accumulated will be written off. No future interest will be raised on the debt until the customer has paid the debt in full. This is provided that the customer complies with the agreement.

If the customer defaults on the agreement interest will be reinstated. Further to the interest write-off, dependant on the number of months the customer will choose, a percentage of the capital write-off will be done.

How to apply for the programme:

Customers that stay in the northern region of eThekwini Municipality who would like to take up this programme can visit any of the Sizakala Centres: oThongathi, Verulam, Phoenix and KwaMashu.

Residents in the western region can visit Sizakala Centres in Pinetown, Mpumalanga, Hillcrest, KwaDabeka and Clermont.

Customers in the south can visit Sizakala Centres in Cragieburn, KwaMnyandu, uMlazi Megacity, and Kingsburgh to apply for the programme before it closes.

The deadline to apply for this programme is the end of February 2023. 

Almost Time For Tsogo Sun Amashova & Bierfest & The Durban Business Fair

Coming Soon For Durban 

The Tsogo Sun Amashova Annual Cycle Race from PMB to Durban

(Melusi Dladla, Nomkhosi Mjwara & Siphamandla Dladla have entered the 35km family run ride, got their cycling license and applied for transport and are ready to roll.)  

If the 106km from PMB and 65km for Cato Ridge is too much to handle this time around, there is also the 35km fun ride which has been a hit with families in previous years.

With full road closures, get the bike pedals going and ride like the wind – mom, dad, grandparents, aunties, uncles and kids alike - on Sunday, October 12^th.

This family fun ride was introduced to the Amashova in order for families of all ages to get involved and starts from Old Main Road, Lillies Quarter, Hillcrest at 5:30am sharp, ending at Suncoast at a cost of only R130pp!

The Mini Shova ever popular with the little ones, will take place on the morning of Saturday, October 11^th. More details on the children’s event will be announced shortly.

Online entries close Monday, September 8^th at 4pm and once entered, diarise the following days of when to collect your race number from registration at Suncoast Conference rooms, because no entries to the 35km will be taken on the day and any cyclist without a race number will be taken off the road and charged by Metro Police: 

Thursday, 9^th October 13h00 – 18h00
Friday, 10^th October 09h00 – 18h00
Saturday, 11^th October 09h00 – 16h00

For more information, to download an entry form, enter online, download a transport form to Hillcrest, or apply for a cycling license for the event, visit www.shova.co.za and click on the events tab or call the Shova organisers during office hours on 031 312 8896.

Almost Time For Bierfest 

For one magical weekend in September, the largest, funnest, most spoken-about and most enjoyed annual lifestyle beer festival in the whole land once again gets ready to rock Durban.

Bierfest gives around 4000 Durbanites (and about 145 tourists from afar afield as PMB!), the chance to experience some real authentic Bavarian Bier culture, while networking!  I also don’t have to mention how Bierfest provides a wunderbar atmosphere in which to entertain favourite clients, colleagues, suppliers, dealers, government ministers, hard working employees, and others who will look upon you with renewed respect after being treated to ze fun of ze Bierfest!

They have a 3,500-seater Bavarian Brauhaus to transport you to magical Bavaria (Sun Coast Casino at Durbs actually), to a magical place where smiley beautiful Frauleins serve you frothingly frosty steins of our specially-made, available-here-only craft biers, and delectable Bavarian eats while you talk shop, or  just talk schnitzels!

Look out for comedian Paul Snodgrass as ze official “Mayor of Munich” leading the festivities. When he’s not on stage or getting people up on stage for fun games and other Bierfest-styled malarkey, they have South Africa’s favourite party band - Me And Mr Brown to serenade you, and when they’re taking a break, a ridiculously cheerful oompah band does their oompah best to get you “in ze mood!”  Do you know the words to ‘Heidi’???

There is also Bierpong (think: team-building!), the mas heben (like something you’d do if you were in the army as a form of punishment), the fearsome “snuff cannon” and masses of social media fun besides!  #Selfie!

For info and to book visit: www.bierfest.co.za

(Source - Bierfest) 

New Features For Durban Business Fair

EThekwini Municipality is ready and gearing up to host the 16th annual Durban Business Fair on 19 – 21 September at Durban Exhibition Centre. The Fair has been expanded and enhanced with new features aimed at infusing valuable business information and to facilitate networking and growth opportunities.

The Durban Business Fair has new elements such as Business Connect which is scheduled for 26 August 2014 at the Hilton Hotel. Business Connect will feature influential and established business people as panelists who will share their essential business expertise with exhibitors, teaching them the tricks of the trade to foster growth and development by offering guidance, support and encouragement.

Other exciting features include the My Startup - I am an Entrepreneur on 16 September, Co-operatives Summit on 17 September, Trade Night on 18 September and Speed Marketing on 19 and 20 September. All these features are aimed at adding value to the overall programme of the DFF. 

Deputy Mayor, Cllr Nomvuzo Shabalala said that the Durban Business Fair remains a key economic development platform that has produced many success stories. “We are encouraged by the continuously growing impact of the Fair to the business community particularly small businesses because of their strategic role to the growth of our economy,” says Shabalala.

Head of Business Support, Tourism and Markets Unit, Phillip Sithole says the expansion of the Durban Business Fair programme is a strategic intervention aimed at broadening its impact.

The general public is encouraged to visit Durban Business Fair to access unique and innovative products and services to be showcased by exhibitors. 

Website: www.dbnbusinessfair.com

(Source - Ethekwini Municipality) 

This edition by +Fred Felton