Growthpoint: 'We acquired Site B on the Foreshore honestly and fairly'
Growthpoint Properties is standing by the fact that it acquired Site B on the Foreshore fairly and honestly.
Western Cape at Growthpoint regional asset manager Timothy Irvine says everyone was at the auction when they bought the property.
Last year activist organisation Ndifuna Ukwazi raised the alarm on Growthpoint acquiring building magnitude rights of 46000m² at the site at a price for rights of 17500m², as the latter measurement was stipulated in the city council’s prospectus as the site’s bulk rights.
There is no way that the property is valued at the amount that is talked about at the excess of R200m. There is an assumption that the property was advertised at a certain amount of bulk 17 500 square metres.Timothy Irvine, Regional Asset Manager - Western Cape at Growthpoint
To say that the property is worth more than R227 million is not feasible. The fortunate thing is that it is a matter of public record that we bought the property at an auction and everybody was present.Timothy Irvine, Regional Asset Manager - Western Cape at Growthpoint
Going through to the advertising, we only received five objections and the issues of social housing were raised, the issue of shade and views and the objector was the City.Timothy Irvine, Regional Asset Manager - Western Cape at Growthpoint
Listen to the full interview below...
Personal finance expert Warren Ingram warns that divorce almost always destroys wealth. Here’s how to not lose your money.Read More
Sasmef president Tebogo Kaas calculates cost of rolling blackouts, while union's Mike Shingange says Eskom board must go.Read More
Bruce Whitfield interviews Basetsana Kumalo about her attitude to money (hopes and fears, successes and failures, etc.).Read More
The proceeds of social bonds exclusively finance projects that deliver a social impact.Read More
Chief operations officer Jan Oberholzer says technicians are investigating the cause of a conveyor-belt failure over the weekend.Read More
“It’s a total mess! What used to be so simple has become a very complicated exercise,” says coal analyst Xavier Prevost.Read More
CCMA acting national commissioner William Thomson gives the lowdown on report for 2018/1019 financial year.Read More
Here are four related stories that may offer an insight to better address poverty.Read More
The winners founded a global research lab that has offices in South Africa specifically aimed at beating youth unemployment.Read More
Some things in life just don’t need a “designer” counterpart, reckons branding and advertising expert Andy Rice.Read More