JSE-listed property fund Orion Real Estate Limited will own some 50 properties valued in excess of R500 million, including properties currently being transferred from the Gmeiner private portfolio.

The total consolidated portfolio comprises 44,18% industrial properties predominantly located in well-established industrial areas such as City Deep, Selby, Marlboro, Laser Park and Isando with landmark properties such as the SAB complex in Foundry Road Isando, has a vacancy level of a mere 2%.

Orion continues to grow and unlock value in its property portfolio. It has achieved a noteworthy decrease in the vacancies in its properties in addition to achieving increased rental streams.

Orion’s vacancies levels are down from 7% to 5,5%, while at the same time rentals have increased. “The office and industrial sectors are doing notably well and the overall strong demand is facilitating both tenant retention and the renewal of leases at escalated rental levels that are sustainable into the future,” says CEO of Orion Real Estate Franz Gmeiner.

Orion is one of the listed property sector’s most agile companies as seen by its activity in enhancing income streams, unlocking value and growing the portfolio.

Orion recently acquired the Promenade Centre in Nelspruit and is currently experiencing a demand for premises to such an extent that there is a waiting list for both office and retail space at the centre.

“Nelspruit is certainly booming with a very strong demand for offices and retail. Orion is assessing The Promenade for opportunities to unlock value, as well as evaluating the possibility of rejuvenating other spaces in the city,” says Gmeiner.

“In the current market good properties in secondary locations offer higher yields than properties in central metropolitan locations and also hold greater potential which can be unlocked via upgrade and renovation programmes,” Gmeiner elaborates.

Orion has redeveloped the apartments in the Orion Centre in Elma Park, Edenvale, for resale which includes the construction of five spectacular new penthouse suites. The sold-out apartments in the Orion Towers will soon be transferred to the new owners.

To further its growth Orion is actively searching for new acquisitions, joint ventures and possible BEE deals. The company recently announced that it would be undertaking a R1 billion retail and mixed-use waterfront development in Bethlehem, Free State. Orion will develop the Bethlehem waterfront and will hold 50% of the property in partnership with property developer Abland and a BEE partner.