Octodec and Premium announced they have entered into an agreement with IPS Investments and City Property Administration that will see IPS repurchase City Property’s shares in IPS for a cash consideration of R127.5 million and the repayment of City Property’s shareholders loan in IPS of R48.1 million.

Premium Properties reports a 10.3% increase to 66.2c in distribution per linked unit for the six months ended August 31 2013.

Octodec Investments delivered strong growth in distributions of 14,8% for the year representing an income yield of 8,3% with a total return of 11,7%.

JSE-listed sister companies Octodec Investments and Premium Properties have 76 property refurbishment projects on the go in Gauteng’s central business districts (CBDs), amid continued improvements in the province’s inner cities.

Wapnick confirms that the much-anticipated merger between Premium and Octodec is now firmly on the cards, given the JSE’s adoption of the new real estate investment trust (Reit) structure 

Premium Properties Limited, the only JSE listed Company to offer significant residential sector exposure, this morning announced its preliminary annual results for the year ended 28 February 2013.

Octodec Investments Limited announced their unaudited interim results for the six months ended 28 February 2013 this morning. 

Nedbank has provided a R100 million loan to Octodec Investments Limited for the development of Tiny Town Phase II in Arcadia and Cambridge Shopping Centre in the Pretoria CBD, once again showing its commitment to the listed property sector.

The fund's overall positive performance is accredited to growth in rental income, the successful upgrade of properties and aggressive leasing initiatives.

Thursday, 19 April 2012 02:00

Premium fund focuses on upgrades

The past financial year signified an intense upgrade phase in the Premium portfolio, with redevelopment and conversions representing a value of R102,1 million, underway at many buildings

Page 3 of 6

Please publish modules in offcanvas position.