Delta Africa Property Holdings takes transfer of Barclays House in Ebene, Mauritius

Posted On Tuesday, 23 February 2016 12:57 Published by
Rate this item
(0 votes)

Delta Africa Property Holdings (formerly Delta International), the first multi-listed property fund to offer international property investors direct access to immediate high growth opportunities on the African continent outside of South Africa, has taken transfer of Barclays House, located in Cybercity, Ebene, Mauritius.


The successful acquisition marks Delta Africa’s first foray into the Mauritian market.

As is customary under Mauritian law, the formal deed of sale was concluded between the parties at the Mauritian notary’s office on 16 February, 2016 with transfer being registered on 22 February 2016 (the effective date of the transaction was however agreed as 1 December 2015).

“This yield-enhancing acquisition meets our rigid investment criteria of strong counter-party leases, underpinned by long-term contracts,” commented Bronwyn Corbett, Chief Executive of Delta Africa.

“We are very excited about our foray into Mauritius and support from the investment community here has been encouraging. Going forward, we plan to continue capitalising on the brand awareness and local knowledge gained in Delta Africa’s existing jurisdictions of Morocco and Mozambique where we have access to a large pipeline of assets,” she continued.

Barclays House is a six storey office complex with 150 parking spaces comprising a gross lettable area (GLA) of 7,700m2 tenanted by Barclays Bank PLC and Clear Ocean Hotel & Resort on long term leases.

The A-grade building is located in Cybercity, Ebene, a sought-after office node 15 km south of the Mauritian capital Port Louis. Other blue chip multinational tenants in the node include Orange, IBM, HSBC, PWC, EY, MCB, Standard Bank and Standard Chartered Bank amongst others.

The purchase consideration amounts to USD13.5 million at a yield attributable to shareholders of 7.3%. Broll Indian Ocean Limited, external chartered valuers, have attributed a value of MUR490 million (approximately USD13.8 million) to the property.

The successful transfer follows earlier announcements of Delta Africa’s further acquisitions in Zambia and Mozambique, as well as the release of the Company’s interim results for the six months ended 31 December 2015 on 18 February 2016. Delta Africa reported a 32.8% increase in its dividend to 6.17 US$ cents per share, representing an annualised dividend yield of 10.6% on the JSE and 7.1% on the SEM respectively.

Last modified on Tuesday, 23 February 2016 17:02

Most Popular

Fairvest to become fourth property company to list on A2X

Oct 30, 2019
Fairvest Property Holdings, a real estate investment trust with a market cap of R2…

Pam Golding Properties Annual Residential Property Report 2019

Nov 08, 2019
SA Reserve Bank
Signs that the residential property market is beginning to stabilise.

Largest student housing development in SA

Oct 29, 2019
STAG African John Schooling
The largest student housing project ever undertaken by a South African public university…

RMB Real Estate Investment Banking: a large-scale partner in a mega mall redevelopment project

Oct 28, 2019
Dylan Stevenson RMB
BROWNFIELD developments have unique challenges. Most shopping centres are built from…

Katlehong's first enclosed Mall opens

Oct 30, 2019
Moolman Group, in partnership with Twin City Developments and Vuno Developments, are…

Please publish modules in offcanvas position.