SA Corporate buys Jhb centre for R42.5m

Posted On Monday, 11 June 2007 02:00 Published by eProp Commercial Property News
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Property group SA Corporate Real Estate Fund has bought the Ridge Shopping Centre for R42.5 million from Capital Property Fund, it said on Monday.

Property-Housing-Residential

 

 

 

 

 

 

 

 

The centre, which is located in Honey Dew Ridge, west of Johannesburg, was bought on an initial income yield of 9.1% and presented sound rental growth prospects, said Roger Perkin, executive director of SA Corporate. 

 
He said the 4,800 m2 centre, which was built in 2003, is 100% let and is anchored by a 1,944m² Spar and Tops outlet, with the balance of the line shops providing convenience and restaurant services.

Last modified on Thursday, 24 April 2014 13:37

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