JSE-listed REIT Texton started the year with a vacancy risk of some 13,000sqm at its multi-tenant B-grade property in the well-established industrial area of Hermanstad. Even taking into account the park’s many loyal, long-term tenants, the vacancy risk accounted for nearly a third of its 44,300sqm space. Moving quickly and aggressively to mitigate this risk, it has secured more than 10,000sqm of leases in four deals of various sizes, the largest being 6,714sqm. In the process, it secured quality tenants and international brands, and reduced the property’s vacancy risk to a mere 2,382sqm.

As part of its aggressive leasing strategy for Hermanstad, and its other properties, Texton is focused on providing excellent service for the broking community and their clients, including compelling incentives for both.

Marius Muller, CEO of Texton Property Fund, comments, “Broker relationships are proving to be key to successful leasing in the current market. Brokers enjoy doing business with a property owner who is proactive in concluding leases, and takes the lead by being flexible and visible, and also makes the effort to understand their clients. Of course, this is above and beyond offering well managed and maintained buildings. We understand this and get on board with brokers to facilitate agreements that are beneficial to all.”

The Hermanstad Industrial Park deals are among several leasing triumphs recently achieved by Texton in South Africa where the REIT has been applying sharp focus on retaining tenants and attracting new clients.

Muller adds, “By leveraging our property strength in this very tough and highly competitive market, we offer assets that are relevant, attractive and meet the needs of businesses.”

Texton’s proactive leasing efforts at its Hermanstad property are having positive impacts beyond the boundaries of its industrial park. “We are pleased to welcome our new tenants to the property. Together we are revitalising the entire Hermanstad area with more activity and energy,” notes Muller.

Texton is a diversified JSE-listed SA REIT with total property assets valued at R5.2bn, of which 61.8% by value is in South African and 38.2% in the UK. It invests in assets ranging from offices, industrial and logistics facilities to retail properties. In South Africa, its investment is focused on quality, well-maintained properties concentrated in the country’s metropolitan cities. In the  United Kingdom, Texton’s investment strategy targets high-yielding single-tenant properties in strong secondary nodes.