Property group ApexHi has bought the Game Gardens retail development in George for 87.5 million rand and at the same time sold its Rivonia Square mall for 196 million rand, it said on Monday.
The 11,000 square metre retail development has an initial yield before gearing of 10.27%, and the sale of Rivonia Square mall – which was sold to Sharemax - is at an 8.2% yield.
Game Gardens is anchored by Game and Checkers with leases that run through to end May 2009.
I-Net Bridge
Publisher: I-Net Bridge
Source: I-Net Bridge
