Advice and Opinion • News

In today’s fast-paced global business universe, where bottom lines often overshadow broader societal responsibilities, it’s essential to reassess how we measure success. In my role in particular, I’ve come to realise that commercial property owners and developers have a vital role to play in shaping the fabric of society. Beyond payout ratios, vacancy numbers and rent reversions, which are all critically important, our impact on communities should be a cornerstone metric of our success.

Recently, Octodec embarked on a transformative journey with the launch of HealthConnect—a project aimed not just at converting a partially vacant, existing building within the portfolio, but at addressing a pressing need within our community. Situated at the intersection of Sisulu and Francis Baard Street in the City of Tshwane, the renovation project for what was once called Ina Building, is a testament to our strengthened commitment to meeting the evolving healthcare needs of the surrounding areas.

Ina Building, once relegated to archiving purposes, presented a unique opportunity for repurposing into a medical centre. Its strategic location adjacent to the Louis Pasteur Medical Centre provided the perfect synergy to establish a hub of medical excellence. By introducing additional medical suites and fostering a seamless connection between the two structures, we aimed to create a space that not only provides medical services but also fosters a warm and comforting environment for patients.

While the physical transformation of the asset is undoubtedly noteworthy, the essence of HealthConnect lies beyond bricks and mortar. It’s about recognising our role as contributors to societal well-being, as facilitators of progress, and as stewards of community health.

In essence, it’s about leveraging our resources and expertise to create tangible, lasting impact.

At Octodec, we firmly believe that thriving communities are built on a foundation of accessibility, affordability, and quality of life. Through HealthConnect, we are not merely developing real estate; we are fostering a culture of care and compassion within our communities. By collaborating with the Louis Pasteur Hospital, we aim to integrate our facilities seamlessly, ensuring a continuum of care for patients and healthcare professionals alike.

The renovation of the Ina Building is more than just a functional upgrade; it’s a demonstration of our commitment to improving accessibility for all. From the creation of reception and waiting areas to the installation of bed and stretcher lifts, every aspect of the renovation is meticulously designed to enhance the overall experience for patients and visitors. Moreover, the addition of covered link bridges will provide sheltered pathways, further improving connectivity and convenience.

But beyond the physical enhancements, HealthConnect embodies a deeper sense of purpose—a pledge to fostering a culture of healing, comfort, and innovation within our communities. By providing accessible, affordable, and quality healthcare services, we are not only improving health outcomes but also enhancing the overall quality of life for individuals and families.

Commercial property owners are operating in a challenging post-Covid environment, particularly against a backdrop of interest rate and inflationary pressures. It’s easy in this context to lose sight of their broader societal responsibilities. However, my view is that success should be measured not just in terms of financial returns but also in terms of social impact. As stewards of the built environment, we have a unique opportunity – and a moral obligation—to use our resources and expertise for the greater good.

HealthConnect serves as an example of how commercial property can be leveraged as a force for positive change. By investing in projects that prioritise social impact and yet remain commercially viable, we are not only creating value for our shareholders but also contributing to the well-being of society as a whole.

Property owners have a unique opportunity to collaborate with government, industry bodies and public sector institutions and create a future where success is measured not just in rands and cents, or distributable income, or even rent escalations and reversions, but rather in the positive impact we leave on the world.

As a case study of purpose-drive commercial property conversions, the story of HealthConnect is not merely about property; it’s about the transformative power of social impact. Commercial property owners have a unique opportunity—and a moral imperative—to use our resources and expertise for the greater good. Let us seize this opportunity with both hands and pave the way for a brighter, more inclusive future for South Africa.