Emira Property Fund has added the 133 million rand WorldWear Shopping Centre in Johannesburg to its portfolio, with the company  anticipating a yield of 10.5% in the first year.
 
The centre was developed by RMB Properties and officially opened to the public at the end of October.
 
The centre has been modelled along the lines of an open-air, European High Street trading precinct retailing specifically branded clothing and sportswear, as well as a homeware store and delicatessen.
 
Other newly-developed properties recently acquired by Emira from RMB Properties are a 20 million rand office development in Pretoria and a 45 million rand office development in Cape Town.
 
The company says several other acquisitions from RMB Properties - including a further 23 million rand extension of Pretoria development and a 217 million rand distribution facility near the O R Tambo International Airport - are pending.
 
I-Net Bridge
Publisher: I-Net Bridge
Source: I-Net Bridge