There seems to be no stopping the spectacular rise of Port Elizabeth-based commercial property brokerage, North Point Commercial.
The company, which specialises in sales, leasing and the property management of commercial properties, celebrated its third birthday in August. In just three years, the company has reached impressive milestones, and are very close to reaching their first R1-billion in sales and approximately 120 000m2 in property leasing deals to date.
Under the stewardship of 39-year-old founder and MD, Justin Smith, North Point has quickly grown from humble beginnings in 2013 into one of the leading players in the highly competitive local property sector.
“The growth of the company has even exceeded our own expectations,” says Smith. “In our second year we sold about R365-million worth of property and concluded about 54 000m2 of leasing deals involving a good mixture of industrial, retail and commercial office space.”
Sales concluded by North Point in the last quarter of 2015 and early 2016 indicate positive growth in the Port Elizabeth property market, says Smith with the following sales.
• the R107m sale of the 12 500m2 Greenacres Office Park – B- grade office space;
• the R74m sale of the 10 400m2 17th Quarter Shopping Centre;
• the R62m sale of a 38 000m2 industrial complex – a single international tenant;
• the R34.6m sale of a 2 000m2 AAA-grade o ce block ten- anted by Alexander Forbes/Marsh; and
• the R13m sale of a 1 250m2 showroom and R21m sale of a 10 050m2 industrial warehouse complex; also single tenanted at a sales price of R21m.
Signicantly, says Smith, all those properties sold are located in Port Elizabeth, indicating growing investor con dence in the local property market.
Building good client relationships is key, he says.
“Good relationships led to one of the largest listed property funds on the Johannesburg Stock Exchange approaching us to assist with on-site management, as well as an aggressive strat- egy for the leasing of their o ce portfolio in Port Elizabeth,” he says. “One of our agents was based at the client’s premises as an on-site broker to assist. This was a big feather in our cap, as a new property brand.” Smith says that North Point Commercial has managed to di erentiate itself in a market with a myriad of players.
“We are proud of our track record when it comes to integrity in the market and maintaining excellent client relationships. We also recognise that time is income for our clients, as unoccupied property is any property owner or landlord’s biggest concern,” says Smith. “We have top-notch, respected brokers
“I am extremely proud of the team that has brought us this far. We have all been together from day one.”
Smith says the company also operates nationally, with pres- ence in Johannesburg, Durban, Cape Town and East London, adding: “Currently we have a R63m sale in play in Johannesburg.”
North Point is also associated with In2Assets, one of South Africa’s leading commercial property auction houses. “Just recently we listed an industrial investment property with In2Assets to be auctioned. Due to the aggressive national marketing campaign and our large client base, the property was sold prior to the September 1 auction date,” Smith says.
Looking to the future, Smith says the company will be increasing its property management division; opening a resi- dential division under the North Point Group umbrella; and continuing to grow its current commercial property division.
When he is not pondering on how to better serve their clients, Smith is also passionate about the outdoors – and will often be found with his wife, Lynare, and their two children, Paige 9 and Blake, 6 at the beach, fishing or boating.
PAGE 14 SEPTEMBER/OCTOBER 2016 BUSINESS LINK MAGAZINE