Listed property loan stock company Spearhead Property Holdings said yesterday that the first phase of its R200m Sable Square “outlet retail” fashion village was set to open at the end of the month near mixed-use precinct Century City in Cape Town.

Linked unit-holders of Madison Property Fund Managers Limited, the first property asset manager in South Africa to be listed on the JSE Limited, are set to benefit from the transaction which should result from Redefine Income Fund Limited’s offer to Spearhead Property Holdings Limited unit-holders to acquire 100% of the Spearhead linked units in issue.

From being the long-standing star sector just three months ago, listed property has taken a massive knock since interest rates were raised a few weeks ago. But while listed property unit trusts have fallen sharply down the performance tables, they could now be offering much better value.

The recent downturn in the listed-property market is a temporary setback in a long-term bull market

Increased investment, smaller yields and higher property values auger well for SA economy.

Listed Property Fund, until recently rather slow on the transformation front, are expected to step up black empowerment deal-making over the next few months to comply with the requirements of the Property Sector Transformation Charter signed last week by Government and industry players.

South African-listed property loan stock companies should consider converting to the international real estate investment trust system, which originated in the US.

Spearhead the fastest growing property loan stock company.

Listed property loan stock company Spearhead Property Holdings said yesterday it would be acquiring Pier Place, a landmark on the Cape Town Foreshore, for R152,8m on a forward yield of just under 10%.

Spearhead Property Holdings have come close to the R1 billion asset barrier and tied up one of the largest Cape Town CBD property deals this year by buying the 14 storey Pier Place building on the Cape Town Foreshore