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Latest News: Growthpoint Properties Ltd. GROWPNT [GRT]

Fri, 6 Feb 2026	Official Announcement [TZ]
Growthpoint - disposal of Discovery phase 1 The Company took a strategic decision to sell its 55% undivided share in the Discovery head office building known as Discovery phase 1, to Discovery Propco (Pty) Ltd. The Company has simultaneously agreed to acquire a 45% undivided share in the Discovery phase 2 building from Truzen 114 Trust. Truzen are also disposing their 45% undivided share in Discovery phase 1 to Discovery Propco. These transactions are interrelated and collectively align with the strategic repositioning and capital allocation framework. The disposal consideration of R 2 317 500 000(55%) for Discovery phase 1 with a GLA of 50 466m² (55%) per the sales agreement, will be settled in cash upon the registration of transfer (effective date) and is subject to the fulfilment of all conditions precedent. Growthpoint's 55% share of Discovery phase 1 was valued at R2 234 864 537 at 30 June 2025. Growthpoint has concluded an agreement with Truzen to acquire Truzen's 45% undivided share in the Discovery phase 2 building for a purchase consideration of R323 100 000. The effective date will be upon registration of transfer and fulfilment of suspensive conditions. Following implementation, Growthpoint will own 100% of the Discovery phase 2 building. The building measuring 19 369m² (100%) was fully let as at 30 June 2025. The transactions constitutes a large merger as defined in the Competition Act, 89 of 1998 (as amended). The merger will undergo the required regulatory processes and remains subject to Competition Tribunal approval.
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