Further cautionary announcement.

Fulfilling a promise made just over a year ago that Spearhead Property Holdings would significantly increase both the size and the quality of its property portfolio, Mike Flax, CEO of the company, has committed Spearhead to R110m capital expenditure to purchase three major landmark Cape buildings.

The value gap between listed property and directly held property is narrowing, says the latest property report by consulting group Rode.

Property investment holding group Hyprop is increasingly becoming a niche retail specialist.

SA investors do not have the option of putting money into instruments derived from underlying assets in the market.

Pangbourne Properties' move to increase its holdings of iFour linked units to 34% has sparked speculation that the group is looking to take out iFour's assets.

Property economist Erwin Rode is criticising listed property fund managers for devoting too much energy to pursuing limited shopping centre developments while there are ample opportunities in the office and industrial property sectors.

Property company Pangbourne Properties (PAP) has announced that it has agreed to collectively acquire from Growthpoint Properties and the Mine Employees Pension Fund (MEPF) 17.854 million iFour (IFR) linked units at 572 cents per linked unit for an aggregate consideration of R102.125-million.

The listed property sector of the JSE Securities Exchange SA is set for a rerating which should narrow the yield gap between the sector and bonds, says portfolio manager of Coronation Fund Managers, Kirshni Totaram.

Property unit trust Martprop concluded the six-month period ended January with a gearing of only 6,7% which leaves the window for further geared growth wide open for the group.