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Acquisition of logistics property in Germany from South Africa in the group MAS Real Estate Inc

Posted On Tuesday, 16 August 2016 12:41 Published by
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Shareholders are advised that MAS, through its wholly-owned subsidiary, Incantada Capital S.à.r.l., has completed the acquisition of a logistics centre in Munich, Germany.

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The purchase price of the property is EUR10 500 000. The property is currently leased to Volkswagen AG until December 2018, after which MAS may relet or redevelop the site.  

MAS is of the view that this property, given its location and size, has good asset management potential and fits with the long term strategy of achieving growing income returns.  

The current annual rent roll is EUR885 692 per annum and the property is expected to deliver an average of 6,99% core income after costs and income tax.  

 

The effective date of the acquisition is 12 August 2016.  

MAS holds a dual primary listing on the Main Board of the JSE and the Euro MTF Market of the LuxSE. 

Last modified on Thursday, 18 August 2016 12:12
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