Listed property funds are moving beyond their traditional source of income, rentals from commercial investment properties.
Most of the 11 listed property funds and companies that reported interim and year-end results last month recorded solid distribution growth to their unitholders.
Spearhead Property Holdings has reported a 43% rise in its headline earnings perked linked unit for the six months to end-December 2004 to 117.55 cents from 82.32 cents a year earlier
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.
Listed property made investors rich last year, but is it 2005’s best buy, ask Adele Shevel and Chris Needham
Last year saw the JSE Securities Exchange SA's listed property index record its best performance in five years, with total returns of 41,25% being reported for the full 2004 year.
It is beginning to be evident to those who track the fortunes of Cape property companies that Spearhead, although still a long way off being in the big league of property owners is very definitely "thinking big" – and is growing its portfolio faster than any other Cape property holding/development company.
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