Metboard Properties Limited nearly halves industrial vacancies in portfolio.

Posted On Tuesday, 04 March 2003 10:01 Published by
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By selling two vacant buildings and letting further space, Metboard, a focused industrial property fund listed on the JSE.

By selling two vacant buildings and letting further space, Metboard, a focused industrial property fund listed on the JSE and managed by Investec Property Group, has nearly halved its vacancies from the beginning of June 2002.

“From June 2002,” said fund manager Jeff Sher, “we have let a total of 67 000 square metres, thereby reducing vacant space in the portfolio from 9,2% to 5%.

“In the past nine months, Metboard has been proactive with well-structured deals, actively managing the letting process and selling properties that were not revenue producing revenue for the fund.”

Sher says the benefits will only flow through during the next financial year, ending 31 March 2004 when the fund will see greater income as a result of reduced vacancies.

ENDS

Prepared by:                Beachhead Media & Investor Relations (Jennifer Cohen)

011 214 2401 / 082 468 6469 / This email address is being protected from spambots. You need JavaScript enabled to view it.

On behalf of:               Investec Property Group

Further info:                Jeff Sher011 286  7675 / 082 881 3147 / This email address is being protected from spambots. You need JavaScript enabled to view it.


Publisher: Beachhead Media & Investor Relations (Jennifer Cohen)
Source: Investec Property Group

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