Mining Writer
Property investor Spear Real Estate Investment Trust (Reit) has announced the sale of two large office buildings in central Cape Town as limited office space continues to drive up prices in the CBD.
The properties, now worth a combined R107m, were purchased a little more than 18 months ago for R80.75m from Emira Property Fund, another JSE-listed investor.
Spear’s Western Cape-focused strategy, which centres on high-demand office space in Cape Town’s established commercial nodes, has helped the group’s share price climb more than 30% in the past year, extending a slow and steady upward trajectory.
In the group’s latest trading update, it said that an accelerating trend of workers returning to the office as companies shift away from remote work had translated into substantial improvements in occupancy in late 2025.
