ApexHi Acquires Industrial Properties Worth R327,5-M

Posted On Wednesday, 24 January 2007 02:00 Published by eProp Commercial Property News
Rate this item
(0 votes)

ApexHi has acquired three industrial properties from Investec for R245-million, bringing the total number of industrial properties purchased since 1 July 2006 to 10, valued at R327,5-million.

Gerald LeissnerSome 45% of the total acquisitions this financial year have been industrial properties, increasing the industrial sector of the ApexHi portfolio from 17% in July 2006 to 21% today. The industrial sector of the portfolio boasts a low vacancy level of only 2,5%.

The three Investec properties, which are situated in Pinetown, Durban and Pretoria, are occupied by Premier Milling with leases that run through to 2012. The properties were acquired on a 12% yield.

In addition to these properties, ApexHi has acquired Fabric Park in Midrand, the Pepsi building in Johannesburg, Denver Industrial Park in Denver, two warehouses in Spartan, one in Olifantsfontein and one in Eastgate.

ApexHi CEO, Gerald Leissner, says industrial space is in high demand in most areas across the country, due to increased economic activity. “The buoyant performance of the retail market has made retail properties more expensive to acquire, while the industrial market is providing good value purchases at high yields,” he says.

Leissner says ApexHi’s strategy is to maintain a good balance of industrial, retail and office properties to minimise risk. “Over the past few years, the significant acquisition drive has resulted in a decrease in the office sector from 53% in 2003 to 36% and a significant increase in retail properties from 25% in 2002 to 43% - which was well timed for the retail boom. The industrial sector initially declined from 23% in 2002 to 16% in 2005, but has now increased to 21% today,” he says.

 

 

Last modified on Saturday, 26 April 2014 16:29

Most Popular

Vantage Capital arranges R430 million of mezzanine funding for Collins Residential, one of South Africa’s largest residential developers

Jan 24, 2022
Murray-Collins-1024x684
Vantage Capital (www.VantageCapital.co.za), Africa’s largest mezzanine fund manager,…

November non-residential building statistics release could point to weakening in commercial space building activity in 2022.

Jan 24, 2022
John_LoosFNB
The StatsSA November 2021 release of non-residential building plans pointed to early…

Banks’ appetite for home loans to remain robust in 2022

Jan 20, 2022
Rhys_Dyer_Ooba (1)
According to statistics from ooba, South Africa’s foremost home loan comparison service,…

SARB to hike the repo rate at the next MPC meeting

Jan 24, 2022
Lesetja_Kganyago (1)
The SARB’s Monetary Policy Committee is set to increase the repo rate this week,…

November 2021 Hotel Accommodation Statistics

Jan 24, 2022
John_LoosFNB
November hotel revenues - strong year-on-year growth off a low 2020 base, but still far…

Please publish modules in offcanvas position.