Sale of Standard Bank Centre for R218m.

Posted On Monday, 14 July 2003 02:00 Published by eProp Commercial Property News
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'right kind of deal to move forward' Property loan stock company Redefine Income Fund has bought the 53 000m2 A-grade Standard Bank Centre on the Foreshore for R218 million.

Brian Azizollahoff

 

 

 

 

 

 

 

 

 

 

 

 

Sale of Standard Bank Centre for R218m 'right kind of deal to move forward' Property loan stock company Redefine Income Fund has bought the 53 000m2 A-grade Standard Bank Centre on the Foreshore for R218 million. The purchase consideration will be settled by a combination of Redefine units and cash. This represents a purchase yield of 13.31% and is income enhancing. "This is just the kind of deal we aim to pursue going forward," says Redefine CEO Brian Azizollahoff. "Almost 90% of the lettable area comprises blue-chip major tenants including Standard Bank, Telkom, P and O Nedloyd and Santam."

Last modified on Monday, 12 May 2014 13:51

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