Tuesday, 07 February 2017 13:13

Fieldspace Property Group strives for multi-generation growth Featured

Written by
Rate this item
(0 votes)

The young Fieldspace Property Group proves itself as a force to be reckoned with. Having entered their second year as Fieldspace, the team is already showing signs of shaking things up in the property sector, proving that innovation is the name of the game.


The market has responded well to the new brand and position of the company, Scott Field, CEO, envisions positioning the company as having a personal touch, “we prefer to invite people to an event and chat face to face, so they know that our team is approachable and ready to assist wherever possible. We are most excited about an upcoming event that we are hosting for brokers where we will showcase a new concept that will transform the way they view our properties.” 

The newly branded entity owns and manages a diversified portfolio in the region of R2bn. Predominantly office space, “it’s spread at about 60% commercial, 30% industrial and 10% retail space. We intend to grow our industrial portion by about four times at the same time doubling commercial space,” remarks Field. 70% of those properties are owned by Fieldspace placing the company amongst the smaller sized funds in the listed sector.

Fieldspace shies away from massive, custom-built industrial warehouses and rather focuses on industrial office parks with multiple units of between 600 – 1000 square metres stacked next to each other to allow for single or multi-tenanted leases. This type of investment tends to be more flexible and diversified in nature.

“As a landlord, you want to partner with small and medium sized businesses who are growing and moving forward - the challenge is to attract them in that pivotal growth phase,” says Field.

The small retail representation in the portfolio is by no means an oversight, with property funds recently diving into retail in droves. “With retail, when done well, it’s very profitable , if you’re going into retail you really need to specialise and that’s not really our niche”, quips Field. The company aims to grow the portfolio whereby commercial and industrial are approximately equal, and potentially pick up the occasional retail property

Field projects a fair amount of growth for the company, but will not consider listing on the JSE. He feels that it prioritises generating income and dividends driven by impact on share price rather than considering the long-term impact of investment decisions. “The decisions that I make today will be borne by my children’s children and for that reason I am thinking long term,” explains Field.

The company holds an advantage as a cash buyer, comfortably sitting at a 40% level of gearing at the moment. Certain nodes show good value for money and others are very expensive. A growing concern for Field and his team is a somewhat apparent disregard for basic municipal bylaws and heavily incorrect parking ratios in some nodes, discovered during due diligence on several potential acquisitions.

Fieldspace looks to grow its portfolio to R5bn over the next five years through natural growth and acquisitions based on good decision-making and a long-term view. 

In addition to the core business, Field concluded that “Fieldspace realises the need to be a responsible citizen and is committed to investing in green initiatives and assisting the local communities in areas where our properties are based. In line with our philosophy for the rest of our business, we are looking at future generations and the kind of planet they will inherit.” 

Last modified on Tuesday, 07 February 2017 13:17

Most Popular

From building houses to building futures: It’s time to take affordable housing in SA to the next level

Jun 22, 2017
Leanne Govender
There can be no arguing against the fact that the provision of affordable housing is a…

Redefine Properties sells Delta stake to women-led BEE consortium

Jul 04, 2017
Phumzile Langeni
JSE-listed diversified real estate investment trust Redefine Properties has sold its…

Vukile acquires R2,8bn Spanish retail portfolio, boosting its offshore exposure to 21%

Jul 04, 2017
Parque Oeste -Alcorcon
Vukile Property Fund announced its trailblazing acquisition of a portfolio of nine…

Substantial development for Salt River's Brickfield Road

Jun 27, 2017
13 Brickfield
Pockets of Salt River, once a booming part of Cape Town due to its proximity to the CBD,…

Bridge City's bold affordable housing vision becomes reality

Jul 04, 2017
Bridge City Affordable Housing
Construction of a landmark affordable housing project at Bridge City is due to start…