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Growthpoint stands firm that it acquired Site B

Growthpoint stands firm that it acquired Site B

Refilwe speaks to Timothy Irvine Regional Asset Manager for the Western Cape at Growthpoint

Property developer Growthpoint is considering its options after the City's planning
tribunal found it had building magnitude rights of 17 500m² and not 46 000m² at the
controversial Site B on the Foreshore.

Last year, activist organisation Ndifuna Ukwazi raised the alarm on Growthpoint
acquiring building magnitude rights of 46000m² at the site at the price for rights of
17500m², as the latter measurement was stipulated in the city council’s prospectus as
the site’s bulk rights.



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