MASTER INVESTOR
A
s founder of the largest listed landlord to government in South Africa , as well as a multi-listed real estate income group specialising in African real estate outside of South Africa , Sandile Nomvete is no stranger when it comes to spotting opportunities where others only see challenges .
Sandile has , as founder and CEO of Delta Property Fund , been overseeing the REIT ’ s phenomenal growth since listing in 2012 . Today , the Fund is a formidable player in the commercial office space with a portfolio of 112 properties across all nine provinces and a total lettable area just shy of 1 000 000 m2 . What sets Delta apart from its peers , however , is that it has carved itself a niche as a specialist accommodation provider to national and provincial governments .
Sandile is also a founder member and current chairman of Grit Real Estate Income Group , a multi-listed landlord specialising in distributing hard currency returns to shareholders by partnering with multinational companies on their accommodation needs in Africa outside of South Africa .
Humble beginnings
Born in 1973 in Hammersdale , a township halfway between Durban and Pietermaritzburg , Sandile credits his township upbringing and parents for his entrepreneurial instinct and drive . “ My parents were very entrepreneurial . They didn ’ t let their circumstances dictate their futures and they both ran their own businesses , interacting with a wide range of people ,” he explains .
“ Growing up in that environment I was exposed to business from a very early age . I suppose I picked up a lot from that ; listening and learning . The one thing that I remember from an early childhood is how courteous my father was to everyone . He always treated people with respect , regardless of the person ’ s status or standing in life .
“ This made a huge impression on me and is something I aspire to in my personal and business life . My father always made everyone feel part of the team , regardless of the significance of their contribution .
“ Today , for me it ’ s still not about the leader , it ’ s all about the team . I generally shy away from the spotlight – my leadership style is more based on the philosophy that if you lead from the front you can lose those who haven ’ t yet bought into the vision . What makes it work is if you push everyone ahead , not leaving anyone behind .”
With his formative years spent in boarding schools – first at King ’ s School in the Natal Midlands and later at St Charles ’ College in Pietermaritzburg , he had to learn to stand on his own feet very quickly . Being in one of the very few mixed-race schools in the country at the time , allowed Sandile to form a perspective on racial issues that many of his generation – irrespective of colour – are still grappling with .
“ I can distinctly remember moving from a township school to the boarding school in the Drakensberg foothills – the new environment and experiences , such as seeing snow for the first time – made a massive impression on me .
“ Boarding school also makes you grow up fast ! It teaches you a different sort of independence when you don ’ t have the comfort of parents protecting your interests – it forces you to interact with all your peers , even those who don ’ t like you .
“ These early childhood lessons , and the example set by my father has allowed me to be comfortable across the spectrum which stood me well in life and in business . As a leader , you need the skill to interact will all people regardless of whether their preconceived ideas are .”
An eye for oppportunity
After matriculating , Sandile studied computer programming , where his entrepreneurial flair led to spotting an opportunity when visiting his cousin who worked at a law firm at the time . “ I was always fascinated by the reams of papers and files and just couldn ’ t understand why they haven ’ t implemented an automated system . That was my first project – creating a Cobol programme to ease the paperwork ,” he explains . Things escalated quickly from there as requests for integration with record keeping expanded to include a billing system , etc . “ It was a blessing in disguise that I started young with no other responsibilities . I could put in the hours without feeling that I ’ m missing out .”
In business , you need a lucky break to showcase your skills . Having spotted the opportunity at the law firm , Sandile later did some work with Advocate Dumisa Ntsebeza , who became head of the Investigative Unit at the Truth and Reconciliation Commission . “ The fact that someone of his stature believed in this 19-year-old kid , meant a great deal to my confidence and ambition to make it work .”
Sandile ’ s involvement in real estate came in the form of an approach by Marriot , who was looking for partners that could manage assets owned by Eskom at the time .
“ We had established a good relationship over time and they could identify with the entrepreneurial spirit that my business had , but I had no property experience ” explains Nomvete .
A PDP crash course in property later , Motseng Marriot was formed , and the foundation for a lifelong love affair with real estate started . The company managed the Pavilion Shopping Centre in Durban , where Sandile cut his teeth in retail property .
The company , over time built a reputation as property manager with expertise in refurbishing A and B grade buildings to A + grade assets , benefitting from the value uplift and attracting longer term leases . This expertise was further refined in CBD nodes attractive to government , where Sandile and his team gained valuable experience in dealing with the administrative structures in government .
“ I ’ m the kind of person that swims upstream – when every-
GETTING TO KNOW SANDILE NOMVETE
Age : 44 Marital status : Married , with 2 boys and a girl .
What are you reading at the moment ? An autobiography on Marc Rich ( Secret life of Marc Rich ) and Billions to Bust and Back by Thor Bjorgolfsson
What is your life motto ? Never let your competitors see you coming !
SA Real Estate Investor Magazine OCTOBER 2017 9