Linkedin-in
Twitter Linkedin-in

QUICK
LINKS

Archives for May 2025

Burstone Group FY25

by

A year of strategic transformation delivers strengthened balance sheet and new revenue opportunities.

Burstone Group today announced full-year (FY25) results in line with guidance, reporting significant progress in the roll-out of its funds and asset management strategy during a year of accelerated strategic transformation.

Following an internalisation process which was concluded in 2023, Burstone Group has established itself as a fully integrated international real estate business and built a hybrid model of traditional real estate assets stapled with a fund and asset management model to drive enhanced returns.

During the financial year the business strengthened its balance sheet, reducing LTV from 44% to c.36% while maintaining stable operations across South Africa, Europe and Australia.

Burstone Group CEO, Andrew Wooler said:

“The building blocks are in place. We have a sound balance sheet and have built a solid foundation from which to grow.”

Results for the period ended 31st March 2025 were in line with expectations:

  • Cash dividend up 1% to 92.22cps (Mar 24: 89.46cps),
  • Distributable earnings per share (“DIPS”) down 0% to 102.5cps (March-24: 105.7cps)
  • Like-for-like Net Operating Income (NOI) up 2% in SA and up 0.5% (in Euros), respectively.
  • Fee revenue grew by 40% amounting to 10.7% of distributable earnings (Mar-24: 7.3%).
  • Third-party assets under management (“AUM”) increased 6 times to c.R23.4 billion. Burstone Group CEO, Andrew Wooler, continued:

Our results clearly reflect the significant strides we’ve made in the strategic transformation of the business and positioning ourselves for long-term growth. These efforts have given us a solid foundation to navigate an operating environment that remains complex and requires thoughtful, disciplined execution. Given the strength of our pipeline and the momentum we are seeing, we are confident that the next 12 to 24 months will be an exciting and pivotal period for the business.”

Burstone concluded several transformative transactions during the period.

The deals included the formation of a strategic partnership with Burstone’s Pan-European Logistics (PEL) platform and Blackstone, the world’s largest alternative asset manager, with Burstone taking the role of asset manager of the portfolio and retaining a 20% investment in the platform.

Burstone Group’s Australian joint venture (JV) with Irongate Group has entered into a strategic agreement with TPG Angelo Gordon, establishing a new industrial programmatic JV in Australia. This partnership has already completed a series of acquisitions, further advancing Burstone’s industrial and logistics fund management strategy in the region. TPG Angelo Gordon, a diversified credit and real estate investing platform within TPG, brings the backing of one of the world’s leading alternative asset management firms.

South Africa Performance

Burstone’s South African portfolio is mature and stable, and supported a sustainable level of earnings with effective capital recycling executed. The portfolio showed a marginal increase in base LFL NOI of+0.2% YoY.

The South African macroeconomic backdrop has improved. The property sector faces challenges, but there are signs of marginal improvements in the region.

  • Strong letting across the portfolio with notable long dated leasing and early renewals in industrial sector
  • Negative reversions persist, particularly in the office sector, but significant improvement year- over year.
  • Disciplined cost
  • Maintained a stable WALE of 0 years.
  • Concluded sales of R1.0 billion at c.2.5% discount to book value.
Pan-European Logistics (PEL) Portfolio

The Group’s PEL’s performance was driven by a strong, defensive portfolio that has consistently benefited from favourable sector dynamics.

  • 5% base LFL NOI growth in Euros (Mar-24: 6.2%) with growth in contracted rent offset by an increase in vacancies.
  • Blackstone transaction successfully completed on 12 November
  • Strategic launch of Burstone’s European funds and asset management
Australia Performance

Burstone’s Australian operations saw a significant increase in equity AUM to $624 million (up 27% YoY) and solid growth in fee revenue (up 16.7% YoY) while the Irongate Group), remains well positioned to capitalise on a strong pipeline of opportunities.

  • New industrial platform with TPG Angelo Gordon: A$280 million of industrial logistics assets in New South Wales and Queensland. Burstone’s equity investment into this platform, alongside TPG Angelo Gordon, is c.A$20 million (15%).
  • Co-investment with Phoenix Property Investors is performing well, with the Smithfield asset value up c.11% driven by rental uplifts and full occupancy.
  • To date, Burstone have deployed c.A$52 million /R0.7 billion alongside capital partners in the

Wooler commented on the Group’s Australian performance:

“Australia is a good case study of what we’re replicating in SA and Europe. The acceleration of earnings we’re seeing coming out of Australia is proof that our model works. We are adding more partners, we’re putting more equity in, and in the years to come, we will see the flywheel turning with greater acceleration.”

Prospects and guidance

Ongoing global uncertainty and volatility are slowing capital deployment, reinforcing a cautious outlook and supporting measured growth expectations over any near-term boom.

The Group foresees anticipated earnings growth of 2% to 4% for FY26, driven by quality assets, platform scalability, and ongoing strategy execution.

  • Active portfolio management: Continued focus on asset recycling, cost efficiency, and capital expenditure to maintain portfolio quality.
  • South Africa outlook: Modest earnings growth expected, led by retail; office remains challenging albeit with improving metrics; while industrial shows positive momentum.
  • European expansion: Strategic partnership with Blackstone launched the European funds platform. The PEL portfolio will continue to benefit from positive rental reversions, albeit that the occupier market is The Group will focus on creating and executing new platforms and strategies.
  • Australian growth: Strong performance expected ahead, with solid investment income growth expected and Australian management earnings set to at least double.
  • In closing Wooler said:“We are pleased with the progress made across the business and we believe that our integrated international hybrid business model will be a key differentiator as we continue to implement our strategic plan over the next few years.”

 

Emira delivers exceptional full-year results

by

Emira delivers exceptional full-year results with robust fundamentals underpinning its strategic pivot 

Emira Property Fund (JSE: EMI) reported a strong set of results for its full year ended 31 March 2025 highlighting consistent strategic execution, accretive diversification and disciplined capital management. The company declared a cash-backed final dividend of 61.50cps, taking the full year dividends to 123.89cps, 5.9% higher than the prior year. Its full-year distributable income per share increased by 4.9%. Emira’s net asset value per share surged by 20.9% over a busy year that delivered exceptional results, improved operational metrics and a substantial repositioning.

All Emira’s key metrics improved, with its South African assets delivering steady outperformance and the US portfolio remaining robust. At the same time, it achieved meaningful portfolio restructuring and strengthening, with a strong entry into the Polish real estate market.

Through a synchronised asset rotation focus, Emira traded out of R2.8bn of non-core assets in South Africa, where it had a further R628.3m of sales under contract at year end. It simultaneously redeployed approximately R2bn (EUR100m) of proceeds into its international strategy, successfully concluding two tranches of investment in DL Invest, with the balance reducing debt. This strategic capital allocation enhances Emira’s diversification by adding exposure to Poland’s growing economy, supported by strong consumer demand, ongoing infrastructure investment and sound macroeconomic fundamentals.

International investments now comprise 38% of Emira’s portfolio, with 16.6% in the US and 21.2% in Poland. The real estate investment trust’s (REIT’s) sectorally and geographically diversified portfolio of direct and indirect property investments supports consistent returns through varying market cycles.

“Emira achieved a major restructure while maintaining and improving our balance sheet strength. The business remains well-capitalised with a prudently managed financial position that is comfortably within all covenants,” says Greg Booyens, CFO of Emira Property Fund.

Interest cover improved to 2.5 times and the loan-to-value ratio improved to 36.3% from 42.4%. GCR reaffirmed Emira’s long-term and short-term credit ratings of A(ZA) and A1(ZA) respectively, with a stable outlook, reflecting a diversified funder base and trusted funding relationships.

Emira’s South African direct property portfolio comprises 63 assets, valued at R9.96bn. The portfolio’s fair market value, adjusted for disposals, increased 6.1%. The commercial portfolio comprises 42 properties balanced across office (22%), urban retail (46%) and industrial (13%). The residential portfolio (19%) comprises 3,347 units across 21 properties, including properties owned by Transcend Residential Property Fund, a wholly owned subsidiary focused on quality, value-oriented suburban rental units.

Ulana van Biljon, COO Emira Property Fund, “We are pleased to report excellent performance across our South African direct property portfolio. While economic headwinds and soft property fundamentals have delayed real rental growth, recent improvements in the operating environment are encouraging. Reduced load shedding and greater political clarity created by the Government of National Unity are bolstering business confidence, which supports the performance of both the commercial and residential property sectors. This reflects in the occupancy metrics of the South African direct portfolio, which continued to trend favourably.”

Commercial vacancies decreased from 4.1% to 3.6% post period, improving from a fleeting increase to 6.4% at year-end caused by a single industrial tenant relinquishing and then reoccupying its space. Vacancies in all sectors were well below national sector benchmarks, signalling sustained tenant demand for Emira’s properties and effective leasing strategies. Office vacancies reduced from 10.9% to 8.4%. Retail vacancies remained low at 4.2% and the industrial portfolio vacancies reduced to 0.5% post period from 0.7%.

Residential portfolio occupancies remained high at 97.2%, excluding units for sale, with solid underlying demand supporting performance and contributing to consistent, modest rental growth.

Emira invested R177.2m in targeted upgrades, energy efficiency projects and refurbishments to reinforce tenant retention and attraction. “These investments are undertaken to enhance asset competitiveness and support operational efficiency, as well as to improve resilience against the impact of weakening municipal service delivery,” notes van Biljon.

Internationally, Emira invests indirectly through equity interests alongside specialist co-investors. In the United States, it holds stakes influential stakes, ranging between 45% and 49%, in dominant, grocery-anchored centres with US-based partner The Rainier Group. In Poland, Emira has a 45% equity interest in DL Invest Group, a Luxembourg-headquartered company developing and managing logistics hubs, mixed-use offices and retail parks across the country.

In the US in December 2024, Emira and its co-investors successfully sold San Antonio Crossing, a centre that had reached peak performance, at an 8.87% premium to book value. The US portfolio closed the financial year with 11 investments, which traded well supported by the continued resilience of the US retail real estate sector. These assets totalled R2.7bn (USD145.4m) and delivered R235.1m in distributable income (FY24: R222.6m for 12 investments).

Emira’s US investments continued to demonstrate strength, supported by stable occupancy levels and consistent tenant demand, even in the face of broader economic volatility, with reported vacancies of 4.6% (FY24: 3.6%) and a weighted average lease expiry of 4.2 years (FY24: 5.0 years).

In August 2024, Emira acquired an initial strategically structured stake in DL Invest and completed a second tranche of investment on 20 March 2025, taking its total equity interest to 45%. Emira’s investment is structured for an attractive return profile, including an annual cash yield of 7.2%, escalated annually by the Harmonised Index of Consumer Prices (HICP) for the European Area, but subject to a cap of 4% and a floor of 2%.

When Emira closed its financial year, DL Invest held a portfolio of 39 completed properties, valued at EUR689m. The portfolio comprises 67% industrial and logistics assets, 22% mixed-use/office assets and 11% retail parks. The portfolio has a total vacancy of 3.1% and a stable weighted average lease expiry of 5.5 years. It also includes land and development assets of EUR173m providing a pipeline for future growth.

Building on a pivotal year from a healthy operational and balance sheet position, Emira will continue to execute disciplined capital recycling strategy and strategically redeploy the proceeds into higher-yielding, value-accretive opportunities. With a strong foundation, disciplined execution and a clear strategy, Emira is positioned to sustain and grow value for investors.

At the same time as reporting results, Emira announced that James Day, currently a non-executive director of Emira, has been appointed Chief Executive Officer with effect from 1 July 2025.

Day, who joined the Emira board on 1 October 2023, brings extensive international and local experience in the listed property sector, including key expertise in raising and negotiating financing arrangements, along with a strong track record in strategic execution and transaction structuring, with various prior financial management and audit roles in South Africa, the United States and Australia. Emira’s board advised that Day’s proven financial acumen and leadership capabilities position him well to guide Emira in its next phase of growth and development. Prior to this appointment, Mr. Day held senior roles in the property sector both in Australia and South Africa, most recently serving as Financial Director at Castleview Property Fund Limited

Spear REIT acquires Berg River Business Park in Paarl

by

Spear REIT has announced the acquisition of the Berg River Business Park, a 30,000m² multi-let industrial park in Paarl, Western Cape.

The acquisition value is recorded at R182,150,000, with an initial yield to the Spear platform of 9.35%. The transaction will be settled via a Section 42 asset-for-share arrangement, with the sellers receiving the full value of their equity in Spear shares.

Located at 46 Distillery Street, along the Berg River in the Drakenstein Municipality, the Berg River Business Park serves a mix of tenants across the food, agriculture, wine, and clothing sectors. The area forms part of a growing industrial node in the Western Cape and benefits from its proximity to the N1 highway, enhancing logistical efficiency for its tenants.

Key Features of Berg River Business Park:

  • Strategic Access: Proximity to major routes, including Lady Grey Street and the N1 highway.
  • Security Infrastructure: The park features 24-hour security, CCTV surveillance, and electric fencing.
  • Energy Efficiency: This includes solar power generation capacity, reducing energy costs, and reducing environmental impact.
  • Operational Resilience: Offers a power supply capacity of 3,500 kVA and full load-shedding redundancy.
  • Connectivity: Equipped with high-capacity fibre-optic infrastructure.
  • Flexible Industrial Space: Units designed with high clearance, modern amenities, and ample yard areas to support various operational requirements.

Commenting on the acquisition, Quintin Rossi, CEO of Spear REIT, said: “One of the advantages of Spear’s Western Cape focus is that the entire province presents investment opportunities. This high-quality acquisition marks our entry into the Paarl real estate market and our first investment in the well-established industrial node of Paarl Industrial. We are very pleased with the asset type, the tenant mix, and the solid rental growth prospects that this food and agri-logistics park brings to the core Spear portfolio.”

The acquisition marks Spear’s continued strategy to grow its portfolio in high-performing nodes across the Western Cape, with a particular focus on assets that offer income resilience and long-term capital appreciation potential.

Art puts the heart into student living

by

New mural in a Johannesburg campus community reminds students where they’re from, where they’re going – and that they are not alone.

Sleep, study, eat. Sleep, study, eat.

Sleep, study … art?

For tertiary level scholars studying in Johannesburg, far away from their roots and often with the weight of their family’s expectation on their young shoulders, the chance to find beauty and breathing space amidst the relentless learning may seem like a fanciful dream. However, at Thrive Student Living’s new Arteria Parktown 500-bed student residence, the art is right there in – even on! – their custom-built home away from home.

Local poet, healer and multi-disciplinary artist Thobile Mavuso was commissioned by Thrive Student Living to create a mural for the R200-million Arteria Parktown property and designed a unique artwork that encapsulates both the displacement and excitement of student life in “res”. The piece is fittingly entitled Ukuzilanda Ukuzilandela Nokuzelapha, which loosely translates as “to return to one’s roots is to care for and heal oneself.”

For artist Thobile – who is currently doing a master’s degree in Fine Art at the University of the Witwatersrand – those roots are in her Ndebele background, echoes of which are found in her vibrant yet restful mural. Painted on an internal courtyard wall in acrylic, using a palette of teal, yellow ochre, red and green, this vast piece features a circle of connected figures in traditional headdress… or perhaps a tangle of opening flowers… or perhaps a patchwork of homesteads amidst fields…

Whatever, it begs to be looked at, to be contemplated.

And that is precisely the point.

The Arteria Parktown mural, says Thobile, explores “the wounding that comes with displacement, dispossession and landlessness that many South African people experience, which often leads to a loss of cultural identity, heritage and traditions.”

The interplay depicted between the human body and the land communicates the interconnectedness of the two, she explains. “It encourages enquiry into one’s history, roots, and imvelaphi – one’s origins – as a means of care and healing. The artwork aims to suggest that through knowing who one is they may find what they are not.”

Thobile was commissioned by Thrive Student Living in consultation with Latitudes, the curated online market for art from Africa, and South Africa in particular. This collaboration was a natural one, as Latitudes’ inclusive ethos mirrors that at Thrive.

“Latitudes is not just a marketplace but an educational platform about and for art,” says co-founder Roberta Coci. “The difference is in our approach. We are flexible, inclusive, and insistent on equitable participation for all players, from the artists, like Thobile Mavuso, to the galleries, curators, and the collectors – many of whom first find the courage to start buying art through our open, inclusive showcase.”

Thrive Student Living benefits from Growthpoint Properties’ award-winning green building initiatives and ongoing mission to create healthy, sustainable environments, with a socially conscious mandate.

“We believe in lifting as we rise and endeavour to partner with members of the university community where possible,” stresses Amogelang Mocumi, Fund Manager of Growthpoint Student Accommodation, which operates Thrive Student Living. “The decision to partner with Thobile was easy given that she is a Wits student and her work resonates with what Thrive Student Living stands for.”

Thrive offers tailor-made campus communities, which include study areas, games rooms, gyms, and backup power and water. Its Student Life programme offers round-the-clock support for students, encompassing everything from academic performance to physical health and mental wellness. It is this unique approach that gives parents and bursary providers peace of mind, knowing students are in a fully supportive environment. Ukuzilanda Ukuzilandela Nokuzelapha is a visual extension of this spirit, believes Amogelang.

“Art is a language, a universal form of expression,” he says. “When students who are sitting in the courtyard underneath this wonderful mural, and they then read the plaque detailing its inspiration, they find new meaning in it and derive their own meaning from it.”

Commissioning Thobile Mavuso proved the perfect fit: she is young, female, vibrant, upcoming, locally-based in Joburg, multidisciplinary – she works in paint, photography, text, sound, and printmaking – and a student too, with her own complicated history. Born and bred in the city, she has long wrestled with her Ndebele culture. She started writing poetry in earnest at the age of 11 to process her emotions around troubles at home, culminating in the publication of her award-wining anthology Songs Broken Women Sing in 2019.

“This latest artwork calls for its viewers to remember who they are no matter how far away they may feel or be from their ancestral lands and events,” she says. “Their work is to celebrate their culture, and to keep it alive. Culture, like art, is a living thing.”

Spear’s strong results with record growth and strategic acquisitions

by

Spear reports strong FY2025 results with record growth and strategic acquisitions

Spear REIT Limited (SEA:SJ), the Western Cape-focused Real Estate Investment Trust (REIT), has announced its results for the financial year ended 28 February 2025.

Amid South Africa’s challenging macroeconomic landscape, Spear has demonstrated resilience, achieving significant milestones in asset value growth, financial and operational performance.

 FY2025 Highlights:

  • Distributable income per share (DIPS): Spear achieved DIPS growth of 3,08% aligning with the mid-range of management’s guidance for the year.
  • Net asset value per share (NAV) growth: Spear NAV per share increased by 3.57% to R12.20.
  • Completion of R1.15 billion transaction: Spear successfully completed the acquisition of 13 prime real estate assets within the Western Cape, valued at R1.15 billion at acquisition date. The transaction was completed ahead of schedule and under budget. This strategic acquisition expanded Spear’s asset base and positioned the company for long-term growth.
  • Asset value growth: The portfolio grew by 19.54% from R4.6 billion in FY2024 to R5.5 billion in FY2025, highlighting the effectiveness of the company’s active management strategy.
  • Market capitalisation: Spear’s market capitalisation increased by R1 billion, reaching a total of R3.3 billion at year-end, a testament to strong investor confidence and future growth prospects.
  • Occupancy rate: The company saw an improvement in its occupancy rates, which increased by 388 basis points to 97% across its core portfolio by the end of FY2025 compared to FY2024. This increase was driven by strong leasing momentum and tenant demand surpassing supply.
  • Rental reversion: Spear achieved a positive rental reversion of 4.18% across its portfolio in FY2025, a clear indicator of the company’s ability to drive value through hands-on asset management.
  • Loan to value (LTV) ratio: Spear continues to maintain a robust balance sheet primed for growth, with a 27.09% LTV ratio and an Interest Coverage Ratio (ICR) exceeding three times.

Speaking at the results presentation, Chief Executive Officer Quintin Rossi, commented on the strategic achievements of the year. “FY2025 has been transformative for Spear. Despite a challenging macroeconomic environment, we have shown resilience through our disciplined portfolio management and strategic acquisitions. The completion of the R1.15 billion acquisition ahead of schedule and under budget is a testament to our team’s commitment to operational excellence and long-term value creation. We are confident that these initiatives will continue to position Spear on a firm foundation to achieve the long-term strategy of the business.”

Chief Investment Officer Kim Pfaff-Karg further highlighted the company’s investment and long-term vision. “Looking ahead, we remain committed to expanding our portfolio within the Western Cape, South Africa’s highest performing property market. Our strategic objective is to grow our asset base to R15 billion over the next 7 to 10 years, while maintaining our disciplined value investment approach to continuously build a robust and defensive portfolio.”

Chief Financial Officer Christiaan Barnard provided an in-depth overview of the company’s financial performance. “We are pleased to report a 12.21% increase in group revenue compared to FY2024, driven by the successful integration of the Western Cape Portfolio acquisition. This, combined with strong rental collections of 98.59%, demonstrates the stability and resilience of our income streams.” Our distributable income per share (DIPS) increased by 3.08% to 85.55 cents for the year, while the total distribution per share (DPS) also grew by 3.06% to 81.27 cents. This was made possible through proactive and hands-on financial management and effective debt portfolio management, including the refinancing of debt at more favourable terms.”

Spear maintained an annualised payout ratio of 95%, strongly conveying its commitment to returning value to shareholders while maintaining sufficient financial flexibility for continued growth.

Spear’s acquisition of the new Western Cape Portfolio for R1.15 billion in October 2024 marked a transformative milestone, adding 13 prime real estate assets, including industrial, retail, commercial, and mixed-use properties. Notably, it introduced medical and life sciences retail assets for the first time, broadening Spear’s investment horizons.

The transaction delivered an initial yield of 9.46%, which increased to 10.1% after factoring in a once-off transaction fee. This acquisition further enhanced Spear’s geographical diversification, with a strong focus on the Cape Town Metropole.

The success of the Western Cape can be attributed to its accountable and effective administration. The region consistently exemplifies strong governance, with the City of Cape Town receiving top honours in both the 2024 Municipal Financial Sustainability Index and the Governance Performance Index (GPI). This commitment to transparency and integrity has fostered a stable environment for investment and growth.

Additionally, the Western Cape Provincial Government and local authorities have made significant strides in driving economic development, with substantial investments in infrastructure, job creation, and energy security. These initiatives have not only enhanced the region’s appeal to investors but have also strengthened its resilience amidst challenging economic times.

Spear’s commitment to its Environmental, Social, and Governance (ESG) policy continues to gain momentum with its PV solar rollout. As of FY2025, Spear has successfully installed solar PV systems across 38% of its portfolio, with plans to increase this to 64% by the end of FY2026. Spear’s total commissioned solar capacity now exceeds 9.4MW, generating an impressive 10.1MW across its portfolio.

The company is actively investigating energy-wheeling projects, aimed at facilitating the transfer of electricity between its owned assets. These initiatives are expected to mitigate rising electricity costs while significantly bolstering energy security across Spear’s portfolio.

Chief Operating Officer, Cliff Toerien commended the invaluable contributions of the Spear team in driving the company’s success throughout the financial year. “The Spear team has demonstrated their ability to asset manage favourable operational outcomes, drive solid portfolio performance through proactive and early engagement leasing strategies and strategic asset management. Our leasing teams have capitalised on improved market conditions, leading to improved occupancy rates and tenant retention across the portfolio. Additionally, our proactive approach in enhancing our rental income and optimising operational efficiencies contributes to our stable financial metrics and positions us well for sustained growth.”

In a strategic step to further strengthen its leadership, Spear recently announced the appointment of Joan Solms, a highly regarded property and finance expert, as a non-executive director to its Board of Directors, effective1 April 2025. This appointment reflects the company’s commitment to strengthening its governance and leveraging top-tier expertise to drive continued growth.

 Outlook for FY2026

Looking to FY2026, Spear expressed confidence in the strength of its portfolio and its ability to generate consistent and predictable returns. The company’s continued focused strategy on the Western Cape positions it well for further growth, with a pipeline of both greenfield and brownfield developments.

In a separate announcement released via SENS on 21 May 2025, Spear announced the acquisition of Berg River Business Park in Paarl for R182.15 million. The 30,000m² multi-let industrial park, located in the Paarl Industrial node, will be acquired through a Section 42 asset-for-share transaction and is expected to deliver an initial yield of 9.35%. The acquisition aligns with Spear’s Western Cape-focused strategy and marks the REIT’s first entry into the Paarl real estate market.

Spear’s management forecasts a 4% to 6% growth in Distributable Income per Share (DIPS) for FY2026 subject to certain qualifications, while maintaining a dividend payout ratio of 95%.

“We are confident that our unwavering strategic focus on the Western Cape, together with our initiative-taking approach to portfolio management, will continue to generate and drive sustainable value for our shareholders in the years ahead. This will result in consistent asset value growth and sustainable, credible and predictable financial and operational performance,” Rossi concluded.

Growthpoint thriving bee hives at Woodlands Office Park

by

Buzzworthy news for World Bee Day: Growthpoint hosts eight thriving bee hives at Woodlands Office Park 

In the heart of Johannesburg’s north, a quiet, vital workforce has been thriving for the past six years at one of the city’s foremost office addresses. Eight honeybee hives nestled within the lush grounds of Growthpoint Properties’ The Woodlands Office Park in Woodmead are always hard at work, and this year they’re also creating a buzz for the UN designated World Bee Day on 20 May.

The World Bee Day 2025 theme “Bee inspired by nature to nourish us all”, highlights the critical roles bees and pollinators play in agrifood systems and the health of our country’s, and our planet’s ecosystems. The Woodland’s bees exemplify this sentiment.

Set in a 43-hectare game park, The Woodlands is already known for its remarkable blend of nature and business. With tranquil waterscapes, rich birdlife, and freely roaming buck and other small animals, it offers an unmatched environment for both productivity and peaceful retreat. With its resident bee colonies, it’s also playing a small but meaningful role in supporting South Africa’s embattled pollinator population.

Pollinators in peril

South Africa is facing a serious shortage of bees, beekeepers, and secure forage sites—conditions that are critical for agricultural pollination. The eight hives at The Woodlands represent a fraction of what’s needed nationally, but they matter because they form part of a larger ecosystem of conservation-aware stewardship.

Bees pollinate roughly 70% to 80% of the foods we eat. Of the 1,258 known species in South Africa, only two can be domesticated in hives (but not in the same regions) and they are stretched thin.

How do these office-park bees support agrifood systems?

The Woodlands colonies are among the 700 that seasonally support macadamia orchards in Barberton, where their pollination boosts crop yields by as much as 70%.

To pollinate South Africa’s 78,000 hectares of macadamia trees, an estimated 312,000 colonies are needed. Yet the total number of managed colonies nationwide barely exceeds that. Add apples, avocados, butternuts and berries to the mix, and the deficit becomes even more alarming.

During off-season periods when farms must be treated with pesticides, these bees require safe, forage-rich refuges. The Woodlands, with its flourishing stands of acacia, paperbark, fever trees, soetdoring and select non-invasive eucalyptus species, offers exactly that.

Why bees belong

By maintaining safe, pesticide-free apiaries like those at The Woodlands, Growthpoint contributes to pollinator conservation and, by extension, national food security or, as this year’s World Bee Day theme highlights, nourishing us all.

As a bonus, each hive, which has one queen bee fiercely protected by her colony, produces up to 30 kilograms of honey annually under ideal conditions, though recent erratic weather patterns have dampened yields across the country, from Gauteng to Limpopo.

“This initiative reflects the value of adaptive, site-specific stewardship. The hives benefit from an abundant local food source, contributing to a healthy and balanced ecosystem within the park,” says Martjie Cloete, Growthpoint Properties Sustainability Manager – Projects.

She adds, “Every small act counts in safeguarding our pollinators. The Woodlands bee project is a reminder that even in urban settings, nature can thrive when given the chance and when our environment is treated as a vital part of our future.”

Copyright SA REIT Association

© 2025
Privacy Policy