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Thursday, 20 October 2016 13:19

Caution first over Brexit uncertainty

Value of shopping centre owner New Frontier Properties' assets has been under pressure.

Rebosis Property Fund, the JSE’s first listed black-managed REIT, today released robust interim financial results for the six months ended 29 February 2016.

UK REIT New Frontier Properties reported a recurring profit of £2,232,000 for the period which is slightly ahead of expectations after taking into account the timing of the purchase of The Houndshill Shopping Centre in Blackpool part way through the period.

New Frontier Properties announce it has acquired the retail shopping centre known as Houndshill Shopping Centre located in Blackpool, United Kingdom from a third party vendor, for an approximate aggregate consideration of £105 million. 

Severe market conditions particularly in the UK, saw CIREF - Corovest International’s property fund listed on the London Stock Exchange AIM Market - reporting a net loss of R406,6 million (£25,9 million) for the year to September 2008

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