Archives for August 2022

It starts with a meal

As Corporate South Africa, we can no longer ignore the plight of millions of children who go to bed hungry every night across South Africa.

On 16 August, Octodec, with the help of City Property staff, came together at 012central to pack over 129 000 meals for Rise Against Hunger which will feed 500 children with five meals a week for an entire year!

The Covid-19 pandemic halted many in-person CSI initiatives and operations, so we were excited to finally roll up our sleeves and get back to being part of the solution by packing meals with our partners from Rise Against Hunger.

3.1 million children experience chronic hunger daily which has a devastating effect on brain development. 90% of brain development happens before the age of five, and further one in five South African children under the age of six are developmentally delayed.

Beyond the facts and figures regularly used to explain hunger, understanding the full extent of starvation and malnutrition can be daunting. We applaud the work Rise Against Hunger does to end hunger by empowering communities, nourishing lives and responding to emergencies.

For over five years we have been committed to his project, providing almost 630 000 meals in that time.  The meals are highly nutritious and comprise of rice, soya, dehydrated vegetable mix and fortifying minerals and vitamins, specifically formulated to combat malnutrition – and complies with the UNICEF standard. 

As was done in the past, the meals will be distributed to early childhood development centres across Gauteng through the Rise Against Hunger network. This food drive serves as an imperative reminder of what can be accomplished when Corporate South Africa comes together for the greater good.

Octodec upgrades landmark Shoprite building

The Company signals its commitment to the CBD through multi-faceted enhancements to an already dominant inner-city retail and residential portfolio

JSE listed REIT, Octodec Investments Limited, today announced that it has commenced upgrading its Shoprite building in the heart of the Tshwane CBD, at a cost of just below R60 million. The facelift is a welcome boost to the existing, bustling retail trade in the CBD, and proves renewed confidence in a node which has clearly emerged stronger post the Covid-19 pandemic.

Jeffrey Wapnick, MD of Octodec, says:With many retailers having returned to the CBD and various in-person university classes resuming, Octodec’s CBD retail assets are experiencing a renewed energy. We are thrilled to announce the news of this project, highlighting that the heart of Tshwane is still thriving and a vibrant place to be.

The first phase will be a revamp of the 4000m² Shoprite supermarket and includes a new Shoprite Liquor and new retail shops on the ground floor. The most prominent visual element will be a triple volume entrance with escalator access from Helen Joseph Street. The escalators will lead downwards to an OK Furniture store. In addition, the project includes renovations to the Helen Joseph Street façade, including a new modern shopfront.

The second phase of the renovation will cater for more retail tenants on the ground floor and the remainder of the basement space. Negotiations are well underway with prospective tenants. Further upgrades include the pedestrian access point from Madiba Street, which will be upgraded to provide a landscaped walkway for easy access to the Shoprite store.

We enjoy deep, mutually beneficial relationships with our tenants, who often provide great insights. It is unlikely they would invest in the CBD without a positive outlook. We are seeing these same tenants lease for longer periods which further underpins their confidence in the CBD long-term. Confidence from our tenants and improved market conditions have spearheaded growth within the CBD, which Octodec will certainly benefit from.” concludes Wapnick.

Shoprite will continue to trade during the duration of the upgrade. The project is expected to be completed in December 2022.