Opportunity: Ponte Tower, situated in the Berea suburb of Johannesburg, is up for grabs – but only for buyers
who are interested in urban renewal. Photo: Delwyn Verasamy
Johannesburg’s skyline has a heartbeat and for decades Ponte Tower has been its most striking pulse. This 54-floor cylindrical giant, rising 173 metres above the city (185m if you count the tip), isn’t just a building — it’s a story. Built in 1975, Ponte opened its doors in 1976. Designed by the visionary architect Manfred Hermer alongside Mannie Feldman and Rodney Grosskopff, Ponte was once the tallest residential skyscraper in Africa.
This building, owned by Kempston Properties, is now up for grabs through private tender. Final bids are due by 10 April at 5pm. Broll Auctions and Sales is managing the transaction. It’s a moment that’s got everyone talking, and for good reason — Ponte’s journey from glamour to grit and back again makes it one of the most fascinating assets in South Africa.
Private tender is a strategy that invites a chosen group of bidders to present their proposals instead of placing the property on the open market. In contrast to a public auction, this method enables Kempston Properties to oversee who participates, potentially focusing on particular investors or organisations with the capability and foresight to handle such a distinct asset.
Costing about R11 million to construct, Ponte was the “crème de la crème” of inner-city living, as Dlala Nje’s Nickolaus Bauer once put it on a podcast. With its unique hollow core letting light flood into wedge-shaped apartments, it lured Johannesburg’s elite — think penthouses, saunas and unbeatable views stretching from Hillbrow to Sandton.
It is interesting why the building is in a circular shape. The site has an unusual layout, with an outcrop of solid rock taking up a significant portion of the land around which the building had to be designed. It became clear that the building would have to be cylindrical to use the maximum amount of the site.
Also to note is that building regulations at the time of construction required a bathroom and kitchen window. The hollow cylindrical shape of the building would allow windows to open into the internal core of the building. In this way, the building regulations were complied with and the façade was uncluttered — all in the name of maintaining the panoramic view of the city through the exterior windows of the building.
By the 1990s, the dream had soured. The building became a vertical slum plagued by crime, gangs and neglect. Its inner core was piled high with rubbish, and no water or electricity was supplied to it.
I watched a snippet about Ponte in a video on YouTube a month ago. When the building changed ownership and was redeveloped in 2007, the trash pile was removed. The building was also notorious for suicides and people falling out of the windows. All the internal windows have been welded shut since 2014.
There was even talk of turning it into a prison. Gauteng’s proposal never came to fruition, but it solidified Ponte’s status as a representation of urban decline at that time.
Another fun fact is that there was a time when developers wanted to create an indoor ski slope in the 3000m2 retail space on the ground floor.
Yet Ponte endured, and in the early 2000s, Kempston Properties stepped in, breathing new life into its 486 apartments. Today, Ponte is home to more than 2 500 residents — proof of its remarkable turnaround. Occupancy now sits well above 80% and is steadily climbing. There is a six-month waiting list for the smaller apartments.
Lesley Saunders, who handles marketing, communications and public relations for Broll Auctions and Sales, said marketing this property has been all about shifting public perception while also targeting parties who have urban renewal as a core principle and will continue to improve not only Ponte but the surrounding area as well.
I reviewed the most recent rent roll supplied by Broll. Bachelor units start at R2 350 a month while one-, two-, three- and four-bedroom apartment rental rates range from R3 600 to R7 000 a month. Parking bay rent is R250.
One of my followers on my X page (@askashbroker) lived in one of the penthouses during the early 1990s. He said the rental was R800 a month for a fully furnished penthouse with four bedrooms, two lounges, a braai area, a sauna and a jacuzzi.
Many say the building is still derelict. But, contrary to this belief, one of my X followers shared some recent photos of the communal areas and the apartments’ interiors that he took in December 2024. I was pleasantly surprised to see the neat finishes of the apartments and the cleaned-up common spaces.
It’s no longer a relic of the past but a thriving rental-only estate, offering everything from studios to four-bedroom penthouses. And let’s not forget its crown jewel — the neon sign atop the tower, South Africa’s largest outdoor advertising space and probably one of the largest in the Southern Hemisphere, beaming brands like Vodacom across the city.
At present, the landlord receives R342 000 nett from rental of this advertising space.
Ponte is a symbol of Joburg’s resilience as much as it is a piece of real estate. It has starred in many movies: District 9, Resident Evil — The Final Chapter, Dredd and Behind Enemy Lines — Seal Team 8. The Canadian rapper Drake also shot one of his music videos here — Please Forgive Me — in 2014.
Other stories I have heard over the years include the time a spectator at Ellis Park in 1989 was shot. The police traced the gunman to an apartment in Ponte.
So why is Kempston Properties selling now? It makes sense when you look at its portfolio. As Broll Auctions and Sales chief executive Norman Raad noted, 95% of Kempston’s holdings are industrial, commercial and farming properties, primarily at the coast. Ponte, a residential outlier in Johannesburg, is the odd one out. Also, Kempston Properties is part of the same group as Kempston Truck Hire and its focus is in the logistics space, especially when it comes to its choice of real estate.
After years of revitalising it — installing biometric security, refurbishing apartments and stabilising its tenant base — Kempton Properties is ready to pass the torch.
Raad said the sale, announced in February 2025, has generated buzz, with more than 50 inquiries on day one. Many more have registered since but it is early days regarding how many will submit an offer to purchase after their due diligence is complete.
Who’s the ideal buyer? Kempston is hoping for a private investor who’ll team up with the City of Johannesburg. The city’s keen to stay in the loop — not to buy, but to ensure Ponte’s next chapter aligns with its urban renewal goals.
This isn’t just a property flip; it’s a chance to shape a piece of Johannesburg’s future. The fact that there are not multiple sectional title owners and Kempston Properties owns every apartment in the building is a win.
I could see this building being an excellent option when it comes to solving our affordable housing issue or potentially a student accommodation conversion.
With its prime location near Hillbrow, an 80%-plus tenancy rate, and that massive ad space and film location, Ponte is a goldmine for someone with a vision — whether they’re chasing rental income or cultural clout, or both. The yield would appeal to most potential investors.
Raad, who has been in the real estate auction business for more than 23 years, says this will be one of the biggest and by far most iconic property sales of his career. He also says Ponte is the perfect opportunity for the city to partner with the likes of Kempston to improve existing abandoned and hijacked buildings.
For me, Ponte’s more than a building — it’s a testament to survival. We can’t escape what she is and where she has been. She’s a beacon of hope. If she can be restored, why can’t Johannesburg be restored too?
From her Vegas-of-Africa heyday to her dystopian lows, Ponte has weathered the storms of a changing, complex city. Whatever the new owner decides to do with Ponte, there is no doubt that it will be hard work. Will they see the grit and glamour I do? One thing’s for sure: Ponte Tower won’t just be sold when those bids close on April 10, 2025 — she’ll be reborn. Again.
Ask Ash examines South Africa’s property, architecture and living spaces. Continue the conversation with her on email ([email protected]) and X (@askashbroker).
