Property Flash


Capital & Regional, the UK convenience and community focused shopping centre real estate investment trust (Reit), has appointed Panico Theocharides as a non-executive director with effect from February 22 2023. SA's largest real estate company, Growthpoint Properties owns about 63% of Capital & Regional. Theocharides, who recently joined Growthpoint as head of investments, replaces George Muchanya as one of Growthpoint’s nominees on the Capital & Regional board.

Theocharides has more than 20 years of experience in the real estate investment industry, including the listed sector. For the past five years he has worked as a property consultant. Prior to this he was Head of Property Advisory, Corporate Finance at Investec in Johannesburg. 

He was also the joint CEO of Annuity Properties. He helped found and later list the company on the JSE in May 2012, at which time it converted to a Reit. Following the listing, Panico led Annuity’s growth strategy, building an attractive portfolio of A-Grade retail and commercial assets, from four properties valued at R486m at the time of listing to 20 properties worth more than R2bn within an 18-month period. In 2014, Redefine Properties bought Annuity.

Commenting on the appointment, David Hunter, Chairman of Capital & Regional, said: “We welcome Panico Theocharides to our Board. He brings a wealth of complementary experiences and his proven expertise in driving significant business growth will benefit Capital & Regional as we continue to implement our strategy in order to deliver value for our shareholders".
“Capital & Regional’s strategy of focusing on dominant urban community shopping centres positions it well to both meet the needs of the local neighbourhoods it serves and deliver returns for shareholders. I believe the company is well placed to continue to take advantage of changing retail habits and navigate the UK macro environment. I am therefore looking forward to joining the Board of Capital & Regional and to working alongside the ambitious executive team to progress that strategy and drive shareholder returns,” said Theocharides.


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