Equites, officially Equites Property Fund Limited, is a South African property developer and real estate investment trust (REIT), specializing in the logistics industry. It is the only specialist REIT listed on the JSE.
Headquartered in Cape Town, the company was founded in 2014. As of 2026, Equites has 59 logistics-related properties in its global portfolio, worth a combined R28.7 billion.
History
Equites was founded in 2013, through the merger of three independent Western Cape-based industrial property developers.
In June 2014, Equites listed on the JSE Limited. At the time, it had a property portfolio with a total value of R1 billion.
In 2015, Equites acquired the Intaprop portfolio for a sum of R1.9 billion.
In 2016, the company completed its first contracted development, which consisted of a 26,000 m² distribution warehouse for clothing retail chain TFG. The warehouse was built in Midrand, Gauteng, at a cost of R150 million.
That same year, Equites made its first acquisition outside SA when it acquired a Tesco distribution facility in Hinckley, England, for approximately R493 million. The facility's lease had 7.5 years remaining at the time of the acquisition.
In 2017, Equites was included for the first time in the FTSE/JSE South African Property Index (SAPY), a subset of the FTSE/JSE All-Share Index. The SAPY consists of the 20 largest JSE-listed real estate companies by market capitalization. At the time, Equites had a market cap of around R8.5 billion.
In 2020, Equites concluded two major agreements. The first was the acquisition of a 50.1% shareholding in three distribution centers from South Africa's largest supermarket chain, Shoprite Holdings, for R3.2 billion. The lease period for these was 20 years. The second agreement was a strategic joint venture with UK-based Newlands Property Developments, which enabled Equites to finalize its first development and lease agreement with ecommerce company Amazon later that same year. The Amazon agreement was for a Peterborough-based last mile distribution facility, with an approximately R694 million development cost and 15 year lease.
In 2021, the company had reached a total property portfolio value of just under R20 billion.
Also in 2021, Equites formed a joint venture with the Eskom Pension and Provident Fund (EPPF) to acquire the DSV logistics campus. The deal was worth R2.05 billion, with Equites holding 51% and EPPF 49% of the shares.
That same year, the company completed a super-hub distribution facility in Barnsley, UK, which was leased to Evri on a 20 year triple-net lease. The development cost was around R1.48 billion.
Operations
Equites' assets are focused on logistics nodes near large population centers and major transport links. The group focuses on big box distribution centers. Locations of preference for the company are Cape Town and Gauteng in SA, as well as the Midlands and last mile fulfilment centers near major settlements in the United Kingdom.
The company is headquartered in Portside Tower, Cape Town, and maintains an office in Linbro Park, Gauteng.
As of August 2026, Equites' subsidiaries include:
Company Shareholding Incorporation Chamber Lane Properties 3 (Pty) Ltd 100% South Africa Dormell Properties 711 (Pty) Ltd 100% South Africa EA Waterfall Logistics JV (Pty) Ltd 100% South Africa Equites (Basingstoke) Ltd 100% United Kingdom Equites Atlantic Hills (Pty) Ltd 100% South Africa Equites International Ltd 100% Isle of Man Equites Investments 1 (Pty) Ltd 100% South Africa Equites Newlands (Hoyland) Ltd 100% United Kingdom Equites Newlands (Hoyland Plot 2) Ltd 100% United Kingdom Equites Newlands (Rugby) Ltd 100% United Kingdom Equites Newlands (Thrapston East) Ltd 60% United Kingdom Equites Newlands (Thrapston Plot 1) Ltd 60% United Kingdom Equites Newlands (Thrapston Plot 2) Ltd 60% United Kingdom Equites Newlands (Thrapston Plot 3) Ltd 60% United Kingdom Equites Newlands (Thrapston Plot 4) Ltd 60% United Kingdom Equites Newlands (Thrapston Plot 5) Ltd 60% United Kingdom Equites Newlands Group Ltd 60% United Kingdom Equites Newlands (Land) Ltd 60% United Kingdom Equites Park Basingstoke Management Company Ltd 100% United Kingdom Equites Park (Thrapston East) Management Company Ltd 100% United Kingdom Equites Peterborough Gateway Ltd 100% United Kingdom Equites Property Management Services (Pty) Ltd 100% South Africa Equites Tridevco (Pty) Ltd 100% South Africa Equites UK Developer Ltd 100% United Kingdom Equites UK SPV 1 Ltd 100% Isle of Man Equites UK SPV 5 Ltd 100% Isle of Man Equites UK SPV 12 Ltd 100% Isle of Man Galt Property One (Pty) Ltd 100% South Africa Galt Property Two (Pty) Ltd 100% South Africa Kovacs Investments 715 (Pty) Ltd 100% South Africa Plumbago Investment Platform (Pty) Ltd 51% South Africa Plumbago Logistics Platform (Pty) Ltd 100% South Africa Retail Logistics Fund (RF) (Pty) Ltd 50.1% South Africa Swish Property Seven (Pty) Ltd 100% South Africa
Property investments
As of May 2025, logistics properties in Equites' portfolio valued at over R500 million each were:
Property Location Gross leasable area (GLA) Value Ref. Plumbago Campus Kempton Park, Gauteng 144,213m² R2.44 billion Centurion 1 Centurion, Gauteng 178,231m² R1.88 billion Equites Park – Riverfields 5 Kempton Park, Gauteng 93,512m² R1.46 billion Brackenfell 2 Brackenfell, Western Cape 140,048m² R1.46 billion Wells Estate Gqeberha, Eastern Cape 99,288m² R1.36 billion Canelands Campus Verulam, KwaZulu-Natal 101,944m² R1.14 billion Brackenfell 1 Brackenfell, Western Cape 109,568m² R894 million Equites Park – Riverfields 4 Kempton Park, Gauteng 51,429m² R681 million Equites Park – Meadowview 8 Linbro Park, Gauteng 28,459m² R515 million
Corporate social responsibility
Equites has committed to becoming a net-zero carbon emissions company by 2040, in line with the SBTi's Corporate Net-Zero Standard.
In 2020, Equites concluded an R800 million sustainability-linked debt facility with Standard Bank, with a focus on sustainable building practices, renewable energy usage, and enterprise and supplier development.
As of 2026, Equites' logistics facilities are built in line with IFC EDGE Advanced certification standards in South Africa. Across all of its facilities, Equites has installed a total of 27.9MW of solar PV power generation capacity.
See also
Logistics in South Africa
References