Grapnel has established itself in the market as a property fund management, development and investment company. The group operates in all sectors of the property business and its people are well-established as industry leaders in their specialist fields. 

Strategically selective about the projects it undertakes, Grapnel’s experience and established position in the property sector allows it to read the market and select the most favourable development, investment and trading opportunities.

Grapnel gained its reputation as the property fund and asset manager for JSE-listed property unit trust Sycom Property Fund, which it managed for 15 years until the company was sold in 2006.

Grapnel subsequently conceived the Hospitality Property Fund, the first specialised property fund focusing on hotel and leisure properties in South Africa. The Fund was listed in 2006 and Grapnel was the majority shareholder in the fund management company until 2010 when this was acquired by Hospitality Property Fund Ltd.


The business was borne out of a joint venture between Nedcor Investment Bank and Corovest Property Group who merged their property asset management interests in 2000 to form Corovest-NIB Property Asset Managers (Coronib).

In 2004, Nedbank and management bought Corovest’s interest in Coronib resulting in a changed company structure and rebranding to Grapnel Property Group.

In 2006, management acquired Nedbank’s interest in Grapnel and the business is now wholly owned by management.

In 2007, Grapnel, together with its Mauritian partners formed and listed the first domestic direct commercial property investment fund on the Mauritian Stock Exchange (DEM). The Ascencia Fund was managed by Grapnel and its Mauritian partners until 2010 when the business was sold.

Grapnel's latest commercial projects include the development of Morningside Shopping Centre which was completed in July 2009; the development of its own 1 600 sqm head office in Rosebank; the development of 5 000 sqm head offices for Cadbury and 10 500 sqm head offices for Ericsson in Woodmead.

In early 2014, Grapnel commenced the development of a high-rise apartment building in Rosebank, The Vantage comprising of 165 units was sold out within a month. A second scheme in Rosebank comprising of 200 units was successfully launched in early 2015.

Commenced construction of The Tyrwhitt in Rosebank.

Launched Perch co-working offices in Rosebank.


Property Investment

Grapnel Property Investments (Pty) Ltd

Grapnel Property Investments (Pty) Ltd owns a portfolio of A-grade commercial properties.

Grapnel Property Investments 2 (Pty) Ltd

Grapnel Property Investments 2 (Pty) Ltd is currently engaged in the development of 2 landmark residential and mixed use developments in Rosebank.

Property Development

Grapnel Property Developments (Pty) Ltd

Grapnel actively seeks out and executes new development opportunities for Grapnel Property Investments and on behalf of select strategic partners. The shareholders and directors of the company have an excellent track record and collectively have over 80 years of commercial property development experience gained across the African continent.

Having developed a portfolio which has been grounded on strong relationships with multinational and other blue chip tenants, Grapnel Property Developments proactively focuses on established growth nodes and the development of efficient, A-grade buildings with long-term tenant appeal.

Property Management

Grapnel Property Managers (Pty) Ltd

Grapnel is equipped with the latest software and systems to provide property management, facilities management and ancillary services (including leasing, legal, marketing, and financial reporting) of properties under management.

Property Services

Grapnel Property Services (Pty) Ltd

Grapnel Property Services provides a full spectrum of fee-earning services to Grapnel Property Group and to third parties through various subsidiary companies.

Fund Management

Grapnel Property Asset Managers (Pty) Ltd

Grapnel has an excellent reputation as a fund manager of listed property funds in both the commercial and leisure sectors.

By virtue of its focus and proactive approach, Grapnel strives to achieve out-performance in capital and income growth as the fund manager of its own portfolio of direct and listed property investments.

Grapnel has the in-house resources and experience to provide the full spectrum of services necessary to manage both listed and unlisted property funds, including fund and financial reporting and company secretarial services which attend to all the ongoing shareholder, statutory and stock exchange regulations and reporting.

Director name

Gerald Nelson Executive director

BSc (Building) (WITS)

  • Gerald commenced his career in the construction industry, later moving into project management as a partner in a firm of specialist project managers.

    Thereafter he spent five years with Old Mutual Properties as development manager, joining UAL Merchant Bank in 1995, where he was responsible for property development on behalf of the bank and Sycom and Newport Property Funds.

    In 1997 he was appointed managing director of Sycom Property Fund Managers Limited (SPFM) the management company for Sycom. In June 2006, Grapnel, the ultimate shareholder of SPFM disposed of its interests in the company and Gerald became a non-executive director of SPFM, a position which he resigned in Jan 2010. He is also a past Chairman of the Association of Property Unit Trusts.

    In 2005, Grapnel conceived, formed and then subsequently listed Hospitality Property Fund Limited.

    Gerald served as CEO of the fund from 2006 until 2013 and remains on the board as a non executive director.

Director name

Chris Fleming Executive director

BSc (Engineering) (University of Cape Town) MBA (WITS)

  • Chris commenced his career as a Design Engineer at Steeldale Systems. Thereafter he spent four years with Old Mutual Properties as a Property Development and Investment Analyst.

    He joined Nedcor Investment Bank Limited (formerly UAL Merchant Bank Limited) in 1997, where he was responsible for developments and investments on behalf of the bank and Sycom Property Fund. In 2000 he was appointed a director of Sycom Property Fund Managers Limited (SPFM) (formerly NIB Property Fund Managers Limited). When Grapnel disposed of its interests in SPFM he resigned his position of director.

    Chris is responsible for development and acquisitions for Grapnel Property Investments.

Justin Bass

Justin Bass Executive director


  • Justin trained and qualified as a Chartered Surveyor in London before joining Old Mutual Properties in 1991 as an Investment and Development Analyst.

    In 1993 he was appointed as the Property Investment Manager for Old Mutual Properties in Cape Town, a position which he held until 1998 when he joined Lonrho Africa as CEO of their East African property and construction business. In 1999, he joined UK private equity company CDC Capital Partners (subsequently re named Actis), as Property Director for Africa, a position which he held until 2005.

    In 2005, he joined Grapnel as part of the team which formed the Hospitality Property Fund. Initially as a director of the fund, he remained involved in the business with responsibility for the hotel developments and refurbishments until Grapnel sold its interest in the fund management business in 2009.

    Justin now focuses on commercial and residential property investment and development opportunities.

Chantelle McCarroll

Chantelle McCarroll Group Financial Manager and Company Secretary

BCompt degree (University of South Africa)

  • Chantelle joined Grapnel Property Group in 2007 as an assistant accountant with responsibility for the project accounting for hotel refurbishments and developments being undertaken by Grapnel on behalf of the Hospitality Property Fund. In addition she assisted with the property management and development accounting for Grapnel Property Managers and Grapnel Property Investments.

    In 2011 Chantelle was promoted to Group Financial Manager and Company Secretary for Grapnel Property Group.

Ayeshia Vorajee

Ayeshia Vorajee Assistant accountant

  • Ayeshia has been in the property management industry for 15 years. From 1999 to 2002 she worked for Marriott and thereafter with Spire Property Group where she worked in financial administration.

    From 2005 to 2011, Ayeshia worked at Pace Property Group as the assistant to the Director of the Property Management Division. She joined Grapnel Property Group in 2011 as an assistant accountant for Grapnel Property Managers.

Brent Webbstock

Brent Webbstock Property Manager

B.Sc CE & M (UCT), PDM (Wits Bus School)

  • After graduating from The University of Cape Town with a B.Sc in Construction Economics and Management, Brent went on to complete a Post Graduate Diploma in Management at Wits Business School. He started his working career in 2013 with Kuper Legh Property Group, where he spent 3 years as a Property Manager, specifically focusing on 3rd party clients.

    In April 2016 he moved to Grapnel Property Group as a Property Manager for Grapnel Property Managers. Brent is responsible for all activities related to the management and administration of the property portfolio.

Tasneem Ebrahim

Tasneem Ebrahim Office administrator

  • Tasneem has been employed in various sectors of the property industry since 2003. Most recently she was a Retail Leasing Administrator at Clearwater Mall, before moving to the Johannesburg Social Housing Company as a Residential Leasing Administrator. She joined Grapnel Property Group in February 2016 and is responsible for the reception and office administration, as well as assisting the Directors and the Property Management team.

    Tasneem is currently studying for her LLB through Unisa.