HIGHER retail rentals and low interest rates have helped some listed property companies to turn in profits well ahead of forecasts.
Investec's head office buildings in Cape Town and Sandton were transferred to Growthpoint Properties Ltd
Growthpoint Properties Limited, South Africa's largest listed property loan stock company, announced an interim distribution of 33,5 cents per linked unit for its six-month period ended 31 December 2003 representing a 4.7% increase in distribution over the comparable six-month period in 2002.
LISTED property group Growthpoint Properties, the largest property fund on the JSE Securities Exchange SA, yesterday reported a 4,7% increase in the interim distribution to 33,5c for each linked unit for the six months ended December 31 2003.
The R5 billion merger of Growthpoint Properties Limited and Primegro Properties Limited has been selected as one of the top 10 deals of the year by David Gleason’s DealMakers.
PROPERTY loan stock company Growthpoint Properties, the biggest fund in the listed property sector, announced yesterday it would be buying Investec Bank's head office buildings in Sandton and Cape Town
Growthpoint Properties has acquired the Investec Sandton head office at 100 Grayston Drive and Investec's Cape Town foreshore building, as well as the use of 580 parking bays at Merchant Place Parkade, for a total consideration of R975 million.
LISTED property asset management company Provest, which is part of Investec Bank, said yesterday that exposure to the retail sector had a positive effect on the earnings growth of property unit trusts.
eProperty News is a leading online commercial property marketplace serving the Southern African Investment, Office, Retail and Industrial property and allied sectors.