A consortium – led by entrepreneur Noluthando Gosa, CEO of Akhona Properties – has secured a 25.1% stake in Broll Property Group bringing the company in line with the reality and spirit of the Property Charter says executive chairman Jonathan Broll. A further empowerment transaction is pending.
‘It’s a pleasure to welcome Noluthando and partners. Empowerment transactions take many forms, but I’m privileged to say that we have one of the finest – Akhona, already an operating entity, brings real property knowledge and skills to the table. Importantly, Noluthando will assume the position of deputy chairperson and assist greatly at board level.’
Broll and Akhona have undertaken several joint-venture property management initiatives in recent years – comprising elements of the Public Investment Corporation’s and Pareto’s portfolios – so the purchase of an equity stake is nothing new to either party.
In an unrelated event, Broll chief executive officer Arnold Meyer has resigned to take up a position with London & Regional Properties – one of the parties behind the purchase of the V&A Waterfront – from 1 May he will become CEO of their African operation.
‘Arnold has come through the ranks and played an important role in growing our business footprint. During the interim, while we conduct a comprehensive search for the right replacement, I will take over the reins. Fortunately within each operating entity there is strong leadership and this team of highly competent senior executives will continue to assist me.’
‘It’s exciting times in the commercial and industrial property industry, and change is the only constant. We are optimistic at the value the Akhona consortium will bring. We’ve grown our presence locally through the introduction of new services and also established viable property services businesses in several African countries. The Company is set to enjoy continued growth, both organically and through acquisition,’ concludes Broll.
Publisher: Cullum Johnston
Source: Broll
