Company
Profile

Our Value
Creation

Leadership
Team

Ethics and Corporate Governance

Company Profile

Octodec, including its subsidiaries, is one of the largest property owners in the Tshwane and Johannesburg areas. We are proud of our diversified portfolio that consists of 267 properties valued at R11.3 billion.

The position of our residential, retail, commercial and specialised spaces in relation to each other in strategic CBD nodes delivers economies of scale and value for money to our tenants.
Our portfolio, including a joint venture, has a lettable area of 1 632 836 m².

We are committed to delivering long-term stakeholder value through an innovative and visionary perspective on property investment.

Octodec has contracted City Property Administration to perform its asset and property management functions. We manage our resources and relationships in the inner city market through City Property’s asset and property management services. Thus, tenants engage with the City Property brand.

City Property’s inner-city know-how and experience provide us with our competitive advantage, through our collective experience, shared knowledge and distinctive culture.

Our History

Our first conversion of a CBD property into residential units to meet the demand for quality accommodation at affordable prices was in 1998.

Octodec aspires to create value beyond financial return. We recognise that our efforts make a difference in people’s lives, communities and the areas in which we operate, and support long-term, sustainable returns.

We create employment stability and invest in mentoring, development and willingness for our people. We are also intensely involved in urban regeneration and entrepreneur development to promote local economic growth. We prioritise sustainable waste management and recycling options and underline the importance of maintenance, upkeep, hygiene, and refurbishments.

We ensure that all our buildings are in excellent condition.

Octodec Milestones

See more Octodec history

2021

Launch of The Wash Bar, affordable laundry services, open 24/7.

2020

Launch of offering furnished units at The Fields, Hatfield, Tshwane

2019

Upgrade of exterior of 012central to align with look and feel of interiors and enclosed areas of the popular precinct.

2018

Redevelopment of Nzunza House in Johannesburg.
Commissioning of “Nzunza Portrait” by artist Hannelie Coetzee.

2017

Launch of new mixed-use development in the Pretoria CBD, Sharon’s Place.

2016

New mixed-use development,
One on Mutual launched in Tshwane.

2015

The redevelopment of Centre Forum in Tshwane was initiated. The urban renewal initiative, 012central was launched. The redevelopment of Frank’s Place in Johannesburg CBD was complete. The second phase retail redevelopment at Silverton was complete.

2014

Octodec successfully merged with
Premium Properties Limited on 1 September 2014.
Jeff’s Place in Tshwane CBD rented out its first unit.

2013

Octodec obtained REIT status on 1 September 2013.

2012

The Centre Walk development opened its first retail offering in November, followed by offices in the same year, with developments continuing into 2015.

2011

Sharon Wapnick was elected as Chairman of Octodec in October 2011.

2010

The development of the City Lodge and office block at The Fields and Kempton Place were completed.

2008

The first development phase of The Fields in Hatfield and Steyn’s Place in the Tshwane CBD were completed. Kempton place was purchased.

2007

Steyn’s Arcade was purchased and was
renamed as Steyn’s Place after its upgrade.

2006

Die Meent was purchased and renamed to Centre Walk after the development was complete.

2003

Octodec started to invest in the Johannesburg CBD.

2001

Killarney Mall was purchased.

1998

Jeffrey Wapnick took over from Alec Wapnick
as Managing Director of Octodec.

1997

First conversion of an office block into residential units in the Tshwane CBD.

1996

Nedbank Plaza was purchased.

1993

The Louis Pasteur Medical Centre was purchased.

1990

Octodec listed on the JSE.

1968

Alec Wapnick established City Property Administration (Pty) Ltd on 17 September 1968.

1956 - 1990

Octodec acquired a number of properties in Johannesburg and Tshwane and pioneered the Tshwane West redevelopment, the original Brooklyn Mall development and was the first mover in the conversion of offices to residential units in the Tshwane central business district.

1956

Octodec was founded by Alec Wapnick in Tshwane on 8 November 1956. Octodec mean 18 in Latin and referred to the 18 original shareholders, which included the Wapnick family - still a core shareholder in the business.

Strategy & Business Model

Octodec’s speciality is investing in mixed-use space.

Our focus is on unlocking value in urban spaces for the diverse and granular inner-city community. We especially want to create a thriving inner-city environment that serves the everyday person. We want to cultivate and serve a flourishing ecosystem of residents, small shop owners, professionals, government employees, students and entrepreneurs.

That’s why Octodec is invested in strategic nodes in the CBDs of Tshwane, the administrative capital of South Africa, and Johannesburg, the economic hub of South Africa and surrounding urban areas.

Our strategic objectives direct us to create sustainable value for our shareholders and tenants and to optimise our portfolio to ensure ongoing excellence in property management.

Our Approach To Value Creation

Financial Capital

Octodec’s financial resources include cash generated from rental income and the resources we obtain from equity, debt funding and the proceeds from the recycling of properties.

Manufactured Capital

We use our manufactured capital – which includes the properties, infrastructure and equipment we own – to grow our financial capital by generating rental income.

Human Capital

As a strategic team, Octodec and City Property synergise our people’s skills, competencies and experience. We prioritise their safety, well-being, motivation and training.

Intellectual Capital

Intellectual capital flows from our shared expertise with our strategic partner, City Property. Our collaboration enables us to adapt to a changing business environment and achieve cost efficiencies.

Social & Relationship Capital

Tenants, suppliers, employees, government and business partners are central to our business. We take the long-term sustainability of contributions to communities where we operate very seriously.

Natural Capital

We are committed to being environmentally responsible. We embrace ecologically friendly technologies to build, refurbish and redevelop our properties.

Our Approach To Value Creation

Financial Capital

Octodec’s financial resources include cash generated from rental income and the resources we obtain from equity, debt funding and the proceeds from the recycling of properties.

Manufactured Capital

We use our manufactured capital – which includes the properties, infrastructure and equipment we own – to grow our financial capital by generating rental income.

Human Capital

As a strategic team, Octodec and City Property synergise our people’s skills, competencies and experience. We prioritise their safety, well-being, motivation and training.

Intellectual Capital

Intellectual capital flows from our shared expertise with our strategic partner, City Property. Our collaboration enables us to adapt to a changing business environment and achieve cost efficiencies.

Social & Relationship Capital

Tenants, suppliers, employees, government and business partners are central to our business. We take the long-term sustainability of contributions to communities where we operate very seriously.

Financial Capital

As members of the Green Building Council, we are committed to being environmentally responsible.
We embrace ecologically friendly technologies to build, refurbish and redevelop our properties.

Operating Structure

City Property provides the specialist leasing, portfolio management and marketing skills necessary to deliver excellent customer service to our tenants on our behalf. City Property is mandated to secure an appropriate mix of tenants for the various sectors of our diverse portfolio at rentals that are market related and that provide value to our tenants. This approach allows us to create stakeholder value using an innovative approach to retaining tenants and keeping vacancies low.

B-BBEE Compliance & Transformation

The management agreement between City Property and Octodec was implemented with effect from 1 July 2018.

The services that City Property has undertaken to provide for and on behalf of Octodec are summarised here:

Property management

City Property is responsible for all services that are typical of traditional property management. These include leasing, billing, collections, utility management, property accounting and expense management.

Asset management

As part of the “all-in” service rendered by City Property, it sources and advises on investment opportunities, sales and acquisitions (including ancillary processes such as feasibilities and due diligence investigations), and financial management. It monitors the regulatory environment and advises on income enhancing opportunities.

Specialist services

Certain specialist skills have been developed to manage the unique challenges prevalent in the Octodec portfolio. These include the establishment and maintenance of various stakeholder relationships, tenant installation services, repairs and maintenance, risk, legal, HR, IT, compliance and account management, as well as credit control.

Leadership Team

The Octodec Board of Directors features leaders in the property and finance industry, capable of providing the expertise and insight to drive the brand forward.

The Board of Directors

Non-Executive Directors

Sharon Wapnick
Chairman
BA LLB (cum laude)

Myron Pollack
CA(SA)

Executive Directors

Jeffrey Wapnick
Managing director
BCom

Anabel Vieira
Financial director
CA(SA)

Richard Buchholz
CA(SA)

Independent Non-Executive Directors

Derek Cohen
Lead independent director
AEP (Unisa)

Nyimpini Mabunda
MBA, Post Graduate Diploma
(Marketing Management), BSocSci

Maggie Mojapelo
BA (Hons) (Education),
MAP, Dip HR, MBA

Pieter Strydom
MCom (cum laude)
CA(SA)

Louis Van Breda
CA(SA)

Group Company Secretary

Elize Greeff
B.Iur. LLB

How Octodec Promotes Ethical Behaviour

Octodec requires all its representatives to act in good faith and in a manner that promotes our aspiration to be a good corporate citizen.

The highest levels of management within Octodec focus on the issue of corporate ethics. Our Managing Director is ultimately responsible for implementing our code of ethics.
Our code of ethics, which aligns with international best practice, underlines that we do not tolerate acts of bribery or fraud by our employees, contractors, suppliers, joint venture partners or other business partners.

The Board of Directors and the Audit, Risk and Social, Ethics, Remuneration and Transformation Committees monitor compliance with our code of ethics through regular reports.
These reports include feedback from the chief risk officer and our whistle-blower hotline, which details are included below:

Be Heard hotline:

Octodec’s Corporate Governance Structure Is Designed To Create Sustainable Value

The governance framework and policies contribute to sustainable value creation by driving:
• Stakeholder accountability
• Sound leadership
• Effective decision-making
• Risk management and risk mitigation
• Comprehensive integrated reporting

Corporate Governance Downloads

Date Document
2022-07-07 B-BBEE Commission Compliance Report [PDF] ViewDownload
2021-12-16 King IVTM assessment [PDF] ViewDownload
2021-08-15 Memorandum of Incorporation [PDF] ViewDownload
2021-08-15 Octodec Board Charter [PDF] ViewDownload
2021-08-15 Octodec Risk Committee Terms of Reference [PDF] ViewDownload
2021-08-15 Octodec SERT Committee Terms of Reference [PDF] ViewDownload
2021-08-15 Octodec Audit Committee Terms of Reference [PDF] ViewDownload
2021-08-15 Octodec Nominations Committee Terms of Reference [PDF] ViewDownload
2021-08-15 Directors' Renumeration Policy [PDF] ViewDownload
2021-08-15 Total Reward Philosophy Strategy and Policy [PDF] ViewDownload
2020-07-14 B-BBEE Certificate [PDF] ViewDownload

Risk Management

Our risk management framework addresses all significant risks and implements a bottom-up, top-down approach.

While our Board of Directors has delegated its responsibility for risk management to the Audit and Risk Committees, it still retains ultimate accountability for the governance of risks, which potentially impact Octodec’s ability to achieve its business objectives.

As part of the risk management framework, all internal stakeholders, including the Board of Directors, are consulted, and a risk register is prepared. The risks identified are managed in terms of effective control systems and within risk tolerance levels established by the Board of Directors.

The enterprise risk management framework clearly defines Octodec’s risk management philosophy. It encourages and instructs a risk management culture throughout the company and within City Property, which manages these risks on Octodec’s behalf.

The risk register is presented quarterly to the Octodec’s Risk and Audit Committees and the Board of Directors.

Our use of a combined risk management assurance model has two important aims. Firstly, to provide the Board of Directors and its Committees with oversight of Octodec’s risk management activities. Secondly, to embed the culture and practice of risk management in the day-to-day activities of the business.

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