One company now owns an entire estate worth R1 billion in South Africa
The Competition Commission has approved the sale of Coral Cove, a luxury North Coast retirement village, without conditions.
The high-end retirement village, comprising 168 freestanding villas, will be sold to Brenthurst Retirement Holdings, a subsidiary of Growthpoint Healthcare Properties.
The property development is located in the Zululami luxury coastal estate in Sheffield Beach, KwaZulu-Natal, on the North Coast.
The property was previously jointly owned by Brenthurst and Nedbank, but the recent sale will see Brenthurst take full control.
Brenthurst already has an extensive retirement village portfolio, operating under the Auria brand, with locations in Johannesburg, Cape Town, and the North Coast.
Outside of retirement accommodation, Brenthurst holds an extensive property portfolio, according to the Competition Commission.
“The Acquiring Group has a property portfolio which includes light industrial, office, retail and residential
property developments and property letting enterprises,” the commission said.
“Relevant to the merger are the Acquiring Group’s development, ownership, and operation of for-profit independent living and continuing care retirement communities.”
Auria was acquired by Growthpoint Healthcare Properties in December 2025, thereby becoming a subsidiary of the Real Estate Investment Trust (REIT).
“GHPH acquired a 95% shareholding in Auria for R1.2 billion, settled in cash and fully funded with debt,” Growthpoint Properties said in its latest financial results.
“The acquisition adds five senior living communities with a gross asset value of R3.6 billion to the healthcare portfolio and represents GHPH’s formal entry into the senior living sector.”
“The transaction is expected to enhance portfolio diversification and provide exposure to favourable long‑term demographic trends.”
Growthpoint Healthcare Properties is an unlisted REIT and is partly owned by Growthpoint Properties, a major player in South Africa’s property market.
The group’s property holdings are expansive and include the V&A Waterfront in Cape Town, one of South Africa’s most popular malls.
Coral Cove
Coral Cove is a major asset for Auria and Growthpoint, with an estimated investment of R1 billion in its development.
The retirement village sits on the coast, with direct access to both Sheffield Beach and Christmas Bay through Zululami and its neighbouring estate.
Along with direct beach access, the property boasts several amenities, including a heated swimming pool, an air-conditioned cinema, and its own restaurant.
The village also features a fully-equipped wellness centre and care centre.
Zululami, the larger estate where Coral Cove is located, is owned by Collins Residential, whose director, Murray Collins, commented on the retirement village when it was first announced.
Auria’s incredible reputation and quality delivery will contribute to the growth of the greater North Coast footprint,” Collins said when the development was announced.
“Investment potential within KZN will also be significantly enhanced, and this is certainly a positive indicator for future investment opportunities within South Africa.”
Auria CEO Barry Kaganson also commented on the development, noting that the location was a major benefit to the retirement village.
“We’re unaware of any other development of this nature in South Africa, or indeed globally, with a location as exceptional,” Kaganson said.
The retirement village has several property options, including garden villas, Maisonettes, and serviced apartments.
It also has a specialised care centre that provides assisted living, frail care, and dementia care for residents.
One of Coral Cove’s first residents was Penny Rey Coelen, A South African model and beauty queen who won the Miss World Title in 1958.
The North Coast has recently seen a boom in its property market as South Africans look to move from larger cities to coastal areas, in a trend known as “semigration”.
While Cape Town is often identified as South Africa’s semigration hotspot, the North Coast has also seen extensive luxury developments, including the opening of a Club Med resort earlier this year.
Photos of Coral Cove
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