Growthpoint Properties has announced the formation of a dedicated trading and development business unit. This new, specialised division will play a key role in creating excellent business opportunities for the company and world-class premises for the group’s clients.
The team behind trading and development has established a sterling track record of creating assets and value for Growthpoint over the years. Until now, these in-house skills were held within each sector of the group’s portfolio – office, retail and industrial. The new trading and development business unit combines and integrates its cross-sector development and trading expertise to optimize its business strengths.
Estienne de Klerk, CEO of Growthpoint South Africa commented:
“Growthpoint’s trading and development team is a key part of our business. It has played a significant role in building Growthpoint’s own portfolio. Now, this enables us to provide our clients with an extra service that meets their needs. Besides providing existing buildings we can create new buildings for them that meet their very specific, bespoke requirements.”
Growthpoint’s goal is to generate consistent, recurring income from third-party development fees and trading profit which totals no more than 1.0% to 2.0% of its distributable income.
Rudolf Pienaar, Growthpoint’s new Chief Investment and Development Office heads the talented and specialised team:
“Development plays a key role in Growthpoint’s South African investment strategy with tailor-made assets designed to enhance our portfolio and retain and attract quality clients. In working closely with our clients, however, we have found that some of their needs go beyond a simple tenancy – their company policy may require them to own certain types of properties, they might need to dispose of a property asset in order to become a tenant of Growthpoint, or they could require specialised premises that can only be custom developed. Our trading and development team is now able to assist with a full suite of property and consulting solutions and can offer a full spectrum of development services.”
“Our aim is to be the leading partner of choice for value-creating property investment and superior, smart, and sustainable development. We have gained a lot of experience over the years providing property solutions tailored to the needs of our clients. We are excited to leverage this understanding to meet the unique business needs and future growth of our partners across the office, industrial, retail, residential, hospitality, healthcare and mixed-use property sectors” concluded Pienaar.