V & A Waterfront
One of Africa's most visited tourist destinations, the Victoria and Alfred (V&A) Waterfront attracts over 24 million visitors every year. Set in the oldest working harbour in the southern hemisphere, the 123-hectare mixed-use development caters to both local and international visitors.
Why we’ve invested
Home to a large number of corporate head offices, industrial space predominantly used by the fishing and marine industries, and 12 hotels, the development has vast retail, dining, leisure and entertainment offerings as well as important heritage sites and tourism landmarks. Growthpoint Properties acquired a 50% stake in the V&A in 2011 with the Public Investment Commissioner owning the other 50% on behalf of the Goverrnment Employees Pension Fund. The V&A currently makes up 1.6% of the entire Western Cape economy.
V&A at a glance
- The hotel, office and marine segments positively impact the overall performance, with the hotels performing better than similar hotels in the Western Cape
- Ongoing national and international corporate demand for offices at the V&A has resulted in extremely low vacancies, high rental levels and good renewals
- Nearly non-existent retail vacancies and space is in high demand. Trading densities here exceed that of global peers
- The Victoria Wharf has become the highest Green Star-rated shopping centre of its size in SA with a 5-Star rating. The V&A is also home to the highest Green Star-rated hotel in Africa with an additional 12 Green Star-rated buildings in the precinct