M.A Anonymous 0

Growthpoint Monopoly - An Uncompetitive Industrial Property Market

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The exploitative nature of Growthpoint Property has become a hindrance to small business growth and survival in an already tough business environment in South Africa. Their monoploy over much of the industrial property in South Africa and abroad has resulted in a drastic increase in industrial property, which has crippled many businesses trying to survive in even the smallest of properties owned by this massive-money churning private institution.

Despite the increase in industrial property rentals, and the highly inflated prices that existed originally, Growth Point still provides the business owners on their property little, to no service, besides the property itself. With recent load shedding and subsequent blackouts due to an overload of South Africa's National energy provider Eskom, Growthpoint has failed to provide generators to keep businesses running during these load shedding hours. The money lost during these periods is not re-imbursed, and the small business owners renting industrial property from Growth Point can do nothing but sit back and roll with the punches from fear of voicing their opinion to the property owners and managers, as they will just be asked to leave and sever the lease. This is what happens when a single private body becomes too powerful in a Nation already plagued by greediness and an uncompetitive market economy in which few large companies have much of the control.

In some industrial property, inadequate security has been provided despite the knowledge of the crime rates in South Africa, which are some of the worst statistically in the World. Unarmed security guards have no other otion to stand down when confronted by criminals with weapons. Money/goods are thereby stolen, and yet again Growth Point simply ignore the costs incurred from robbery by the tenants. If security measures were upgraded, and generators provided, which would be expected when paying rents which are almost double that of other privately owned industrial property, then tenants and the general public would be grateful and would not mind paying such ridiculous fees, so long as they have electricity, business security and physical security as well.

Let us stand together and change the the unethical business environment Growthpoint has created in South Africa and elsewhere.

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