Redefine contemplates another attempt for Fountainhead assets

Property analysts on Wednesday criticised Redefine Properties’ planned acquisition of Fountainhead Property Trust’s R11bn portfolio, suggesting that Fountainhead’s unitholders might be short-changed.

The local listed property sector declined by 0.7% in the first week of October, as international investor sentiment towards South Africa continued to deteriorate in the wake of further labour unrest. 

Catalyst Fund Managers’ recent report on the listed property sector provides for some interesting perspectives, including how a particular growth strategy through potential hostile take-over bid, could shape up

Oasis Group Holdings, the asset management group, has recommended to clients with Fountainhead units not to accept Redefine’s proposed acquisition of the property unit trust

Fountainhead is continuing its strategy of buying quality retail assets in strong retail nodes, announcing that it has reached an agreement to acquire Access Park, in Cape Town.