Liberty Group acquires share of prestigious Melrose Arch precinct

Posted On Monday, 03 March 2014 17:52 Published by eProp Commercial Property News
Rate this item
(0 votes)

Liberty Group Limited, a wholly-owned division of Liberty Holdings Limited, today announced the acquisition of a 25% undivided share in the yield producing assets of the Melrose Arch Precinct, from Melrose Arch Investment Holdings ("MAIH").

Amelia Beattie

Commenting on the transaction Amelia Beattie, Chief Investment officer, STANLIB Direct Property Investments, the asset managers for the Liberty Property Portfolio, said: "We are excited to include Melrose Arch in our portfolio of premium quality assets.

The new partnership will enable us to maximise the long-term sustainable investment performance of this quality asset.

"We continue to look for opportunities to re-balance, upgrade and restructure the Liberty Property Portfolio to support the investment strategy of delivering on the benchmark of CPI plus 5% per annum over a rolling five-year period."

Melrose Arch is a high quality mixed use precinct situated in the northern suburbs of Johannesburg with a floor space of 200,000 m2 of high-end tenants.

James Wilson of Amdec, the holding company of MAIH, noted: "We are delighted to welcome Liberty as our new partner at Melrose Arch.

This transaction will allow us to complete the remainder of the Melrose Arch development within the next five years. We are extremely excited about the potential opportunities that could develop through this new relationship."

The transaction is subject to the approval of the South African competition authorities.

Last modified on Thursday, 17 April 2014 17:07

Most Popular

Pam Golding Properties Annual Residential Property Report 2019

Nov 08, 2019
SA Reserve Bank
Signs that the residential property market is beginning to stabilise.

Rebosis Property Fund retail portfolio delivers excellent operational performance despite a tough market

Nov 11, 2019
Sisa Ngebulana REBOSIS
Rebosis Property Fund, the JSE’s first listed black-managed REIT, today reported its…

Massive property auction on behalf of Telkom

Nov 11, 2019
Agricultural Land Beaufort West
GoIndustry DoveBid SA (GoIndustry) is hosting a massive property auction on behalf of…

SA REITs featured among the JSE’s most empowered companies

Nov 08, 2019
Estienne de Klerk SA REIT Chairman
In order of most empowered, the REITs are: Arrowhead Properties, Redefine Properties,…

South Africa’s first ever blockchain-based property register pilot

Nov 07, 2019
DANIEL BLOCH
The pilot study area consists of almost 1 000 properties located in four sites in…

Please publish modules in offcanvas position.