A doyen of SA’s listed property sector‚ CEO of Arrowhead Properties Gerald Leissner‚ dies.

Tuesday, 13 December 2016 11:59

Texton tackles volatility in UK leases

Single-tenanted long-term leases in the UK should protect Texton Property Fund from volatility in the region.

Texton Property Fund Limited (JSE:TEX), a South African real estate investment trust (REIT) has appointed Nic Morris  as its Chief Executive Officer (CEO), with effect from 1 December 2016.

Texton says that property industry stalwart Angelique de Rauville has resigned from the company with immediate effect.

Diversified property REIT, Texton Property Fund (“Texton”) today announced robust final results for the year ended 30 June 2016, declaring a total dividend of 103.63 cents per share (2015: 94.77 cps), a 9.4% increase, following the successful implementation of its diversification strategy geographically into the United Kingdom (UK) and across sectors.

Shareholders are referred to the announcement released on SENS on 27 May 2016 relating to the acquisition of two property portfolios in South Africa and in the United Kingdom.   

Texton Property Fund is moving closer to its goal of having half of its portfolio exposed to UK property and half to South African property.

The past 10 months have been something of a mix for Texton Property Fund, with the firm’s shopping in the UK contrasted by pieces of negative news, including a falling stock and a worryingly high churn rate at the top.

Texton Property Fund’s UK strategy gains momentum - delivers solid performance for the 6 months ended 31 December 2015.

Texton Property Fund anticipates its dividend per share for the six months ended 31 December 2015 to be 51.38 cents per share or greater. 

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