Pangbourne Properties’ turnaround strategy seems to have paid off well.

 on Thursday declared a distribution of 47.72c per unit for the 12 months ended December 2008, representing an increase of 13.92% on the distributions for the previous financial year.

Pangbourne has advised its linked unit shareholders that it would be disposing of its 62.22% interest in Monyetla to Capital Property Fund.

Every listed property fund that has reported results so far this year has managed to raise income payouts by more than 10%. That suggests that the commercial property market - unlike its residential counterpart - still has some steam left

The local property market has seen four years of exceptionally good growth. As the performance levels start to taper off, Property Unit Trusts (PUTs) are looking at offshore markets with a view to both diversifying their holdings and adding to returns

Capital Property Fund, which is part of the Resilient Group stable of listed property funds, has announced that Barry Stuhler has resigned as MD of the listed property unit trust

Listed property loan stock company Resilient Property Income Fund says it has acquired an additional 9,1-million linked units in Pangbourne Properties for R150,7m

Resilient Property Income Fund and its sister company have acquired an effective 10% interest in JSE-listed Pangbourne Properties in a move described by Pangbourne CEO Craig Hutchison as a 'hostile attempt to take over the company by stealth'

At the moment the sector is doing extremely well from a fundamental on the ground nuts and bolts kind of view

Capital has announced an interim distribution of 20,10c a unit, compared with the 18,13c a unit in the same period last year