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Octodec rides crest of rate cuts wave

Posted On Tuesday, 19 October 2004 02:00 Published by eProp Commercial Property News
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Octodec Investments attributed its substantial increase of 26,3% in distributions to unit holders for the year ended August 31 to low interest rates.

 

Mariette Warner

Listed property loan stock company Octodec Investments attributed its substantial increase of 26,3% in distributions to unit holders for the year ended August 31 to low interest rates, its proactive approach to letting and contained operating costs.

Mariette Warner, fund manager at Stanlib Property Income Fund, said Octodec and its sister company, Premium Properties, were the top performers in the listed property sector in the last year. Both Octodec and Premium Properties are managed by City Properties.

Warner said Octodec's increase in distributions was in line with her forecast. She had expected the substantial increase in distributions for the year ended August 31 after Octodec's positive interim results.

She was expecting similar distribution increases for Premium when it releases its interim financial results. "Octodec and Premium have benefited from very successful development and refurbishment work," she said.

This included conversion of office space to residential units with good-quality retail properties on the ground floor, benefiting rental income for the two companies.

Last modified on Wednesday, 14 May 2014 09:54

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