Wits secures R341m Cultural Precinct deal

Wits University will begin construction of its R341 million Cultural Precinct in Braamfontein on 1 January 2027, in partnership with Sabvest Capital Limited, a major investment in the arts that will change the University’s southeastern edge in Braamfontein.

During the year, Sabvest Capital Limited donated 1.4 million shares by the Seabrooke Family Trust. The transaction was announced on the JSE’s Sens platform on 23 September 2026, with the shares valued at approximately R204.4 million based on Sabvest’s R146 share price.

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Wits communications manager Shirona Patel told Moneyweb that the contribution represents the university’s largest share donation to date and the first time Wits has received a share donation of this magnitude from a private entity.

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The five-year development will expand and connect Wits’ existing arts, performance, and heritage facilities while adding new academic and creative infrastructure.

It will include the Wits Art Museum, Jack Ginsberg Centre for Book Arts, Chris Seabrooke Music Hall, a state-of-the-art Digital Arts building, and an additional floor for the Wits School of Arts.

Peter Bezuidenhoudt, director of the Wits Development Office, confirmed to Moneyweb that, “Chris Seabrooke’s contribution will account for R200 million of the R341 million project cost, with Wits funding the balance.”

The next phase will include consolidated music facilities, fine arts facilities, the Wits Theatre Amphitheatre, and a new building and rooftop extension for the Wits Theatre Complex. Restaurants, coffee shops, bookshops, and other lifestyle spaces are also planned.

Wits vice-chancellor and principal Professor Zeblon Vilakazi says the project forms part of the university’s wider relationship with Johannesburg.

“The Cultural Precinct is about opening Wits to Johannesburg and creating spaces where students, artists, scholars, and the public can meet, create, and exchange ideas,” Vilakazi says.

The development sits within a broader Johannesburg cultural and innovation ecosystem that includes the Joburg Theatre, Market Theatre, Sci-Bono, Tshimologong Digital Innovation Precinct, and Constitutional Court.

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Jozi My Jozi CEO Innocent Mabusela says the development could contribute to the city’s wider regeneration by creating opportunities for artists, students, audiences, and entrepreneurs.

“The Wits Cultural Precinct is a catalytic investment: it will open a major institution to the city, create accessible spaces for artists, students, audiences, and entrepreneurs, and translate culture into meaningful opportunity,” Mabusela says.

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