A change in ownership will see the portal become the official property partner to a network of hyper-local newspapers and websites.
At the end of 2017, Private Property concluded an exciting deal that saw South Africa’s leading property portal undergo a change in ownership.
A consortium of proudly South African buyers, spearheaded by media giant, Caxton and CTP Publishers and Printers, have taken over the reins of the property portal from its holding company, One Africa Media – a private equity controlled company.
Other buyers include industry participants who bring a considerable depth of expertise to the table. The deal was concluded with the assistance of the industry body, Real Estate Business Owners of South Africa, and was approved by the Competition Commission.
Simon Bray, CEO of Private Property, noted: “Private Property has grown strongly over the past three years, achieving excellent results as a digital platform and now holds a significant position in the South African market. We are really pleased that we could conclude a deal that maintains our independence and affords us the opportunity to enhance the role that technology can play in the real estate industry.”
Caxton and CTP Publishers and Printers are a major participant in the South African print media industry. They are involved in publishing a number of regional community newspapers, The Citizen daily newspaper and 13 major magazines, as well as commercial printing, packaging, stationery manufacture and book printing.
Private Property will now become official property partner to Caxton’s stable of hyper-local newspapers. The property section on eighty-two of these local newspaper websites will be rebranded and feature property for sale and to rent from the Private Property website. Visitors to any of the local newspaper websites will now be able to get their fix of community-focused content and search for property easily in their area.
Jaco Koekemoer, Managing Director of Caxton Local Media said, ‘We are thrilled to be affiliated with this industry-leading brand which is now our official property partner in conjunction with our current local newspaper supplements and websites in the communities we serve. This partnership will assist us in showcasing a broad selection of hyper local property listings to our readers both in print and online.”
“For the readers of our local newspapers and websites we will work towards providing an extensive showcase of the most relevant properties in your local community and beyond’
The partnership is good news for advertisers too, as Koekemoer explains, “For our Property advertising clients we will be able to offer hyper local exposure as well as national coverage via the relevant Caxton newspaper website (eg: Properties in Sandton will soon be searchable on the Sandton Chronicle newspaper website) as well as Private Property, therefore increasing clients’ exposure substantially.”
“We are currently working together with Private Property to ensure that our advertisers receive only the very best in property advertising solutions both digitally and in print.”