The next 12 months should prove to be an active year for listed property.

Posted On Monday, 14 July 2003 02:00 Published by eProp Commercial Property News
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the Investec Property Group predicts in its latest newsletter. Investec says investors should be careful to invest in quality stocks and allow the capacity to participate in some of the new listings.

Sam Leon InvestecThe next 12 months should prove to be an active year for listed property, the Investec Property Group predicts in its latest newsletter. Investec says investors should be careful to invest in quality stocks and allow the capacity to participate in some of the new listings. Whilst most new listings have under-performed in this sector over the past couple of years, it is likely that the institutional listings will bring better value to the listed sector, the group states.

Recent property news carried in the Investec newsletter include: nShops for Africa's cautionary notice has been withdrawn following the announcement to acquire two stakes in Sammy Marks Square. The first was acquired from Spearhead for R37-million, and the second from Sycom for R57-million; nSpearhead has concluded agreements for the purchase of Ottery Hypermarket for R55,5-million. The acquisition is still subject to certain suspensive conditions being met. Spearhead has also acquired a 45% interest in 129 Beach Road, Mouille Point, Cape Town from iFour. The full purchase consideration is R20,7-million; and nSycom's latest developments include the potential sale of 11 properties. The proceeds will be reinvested into a new R150-million building expected to become one of the fund's flagships.

Last modified on Monday, 12 May 2014 13:57

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