Old Mutual sells R240m

Posted On Wednesday, 21 March 2001 03:01 Published by
Rate this item
(0 votes)
PROPERTIES worth R240 million have been sold by Old Mutual Properties as part of its strategy to continually rejuvenate client portfolios, says Gavin Dold, asset management executive of Old Mutual Properties.

PROPERTIES worth R240 million have been sold by Old Mutual Properties as part of its strategy to continually rejuvenate client portfolios, says Gavin Dold, asset management executive of Old Mutual Properties.

'On behalf of clients, we constantly reassess their properties and divest of units that no longer fit the core strategy,' he says.

Twenty-seven properties were involved, 25 of which were sold to Metprol for a total R200 million.

'They consist mainly of industrial properties in Gauteng and KwaZulu/Natal,' he says. 'The other two buildings, one of which housed Foschini in Johannesburg's CBD, were sold for R40 million to a private investor. This in itself is indicative of the interest that is being regenerated in the CBD. '

 


Publisher: Cape Business News
Source: Cape Business News

Most Popular

It’s cheaper to buy than to rent a home in 2021

Feb 08, 2021
Carl_Coetzee_BetterBond_CEO
If the past year has taught us anything, it is how important our homes have become to us.

SA REIT Association - Chairman's message and 2021 sector outlook

Feb 02, 2021
Estienne de Klerk_Chairman of SAREIT
Real estate has long been a rewarding sector of the financial markets. Like all sectors,…

Thavhani City set for more growth in 2021 as its Motor City and medical developments accelerate

Feb 15, 2021
Thavhani_City_Locality_Layout
Thavhani City mixed-use urban precinct in Thohoyandou, designed to be the future economic…

Brand new residential development in La Lucia 60% sold through Pam Golding Properties

Feb 15, 2021
Kent_Exterior
Such is the consistent high demand for centrally located, well-priced residential…

Teraco concludes R2.5 billion funding round for data centre construction

Feb 03, 2021
Joburg4_Rendition
Teraco Data Environments Proprietary Limited, Africa’s largest interconnection hub and…

Please publish modules in offcanvas position.