The leases have three to ten year tenures with high quality tenants and a total income value of R176 million including a ten year lease with Afrox at IPF’s prime Alrode Multi Park.  

This development bodes well for IPF, particularly in the context of the prevailing tough operating environment.

IPF said that these lettings bring its industrial portfolio to 96,1% let of the current total area of 350,000m².

The Fund attributes successful letting in this climate to a focused and experienced asset management team, well maintained properties, competitive rentals and good relationships with letting brokers.

In addition, IPF’s industrial portfolio comprises well located and good quality mature warehousing, factors which are especially attractive to tenants in a climate where overheads are becoming increasingly important.

Investec Property Fund is a limited liability, variable loan stock company which is listed on the JSE with the purpose of investing in direct real estate, where there is potential for income generation and capital growth. The Fund debuted on the JSE in April 2011 and invests in direct real estate with the objective of growing its asset base to generate income returns for Shareholders by building a quality portfolio underpinned by strong rental income.