Listed property loan stock group Spearhead reports an 18% increase in its headline earnings per unit to 2.43 rand for the year to end-June 2005.

Spearhead the fastest growing property loan stock company.

Listed property loan stock company Spearhead Property Holdings said yesterday it would be acquiring Pier Place, a landmark on the Cape Town Foreshore, for R152,8m on a forward yield of just under 10%.

Spearhead Property Holdings have come close to the R1 billion asset barrier and tied up one of the largest Cape Town CBD property deals this year by buying the 14 storey Pier Place building on the Cape Town Foreshore

JSE-listed property loan stock company Spearhead said yesterday that it had R500m worth of retail, industrial and office property development projects on the drawing board.

Listed property funds are moving beyond their traditional source of income, rentals from commercial investment properties.

Top performer assigns 30% of shareholding to empowerment groups.

Top-performing Spearhead grows earnings 43%, raises distribution 19%.

Spearhead Property Holdings said that it has negotiated deals which would result in 25% of its shareholding being in black hands.

Spearhead Property Holdings said yesterday it had negotiated deals which would result in 25% of its shareholding being in black hands.