Growthpoint Properties Limited has sold the Holiday Inn Hotel in Sunnyside, Pretoria for R35 million to a private investor. Growthpoint’s strategy is to be invested in quality, well-located properties with long leases and sound tenants, thereby ensuring sustainable earnings and capital appreciation. "Hotels are not a sector in which Growthpoint is focussed," said Norbert Sasse, Executive Director of Growthpoint , "and it made sense when we received an offer to dispose of this property to use the proceeds to reduce debt and invest in higher quality properties, such as Menlyn Piazza in Pretoria." Ends
For further information, please contact:
Growthpoint Properties
Norbert Sasse
Tel. 011 286 7306
Cell 083 632 1599
Or
Marketing Concepts
Sandy Davey
Tel. 011 880 2213
Cell 083 453 6668
Publisher: GrowthPoint
Source: Marketing Concepts
