Vividend declares a distribution of 50c per linked unit for the year ended August 31 2013 which is above forecast expectations.

Recent activity by listed property counters in the Western Cape suggests the local real estate market could be ready to resume a more vibrant trend.

Vividend seeks to acquire several properties around the country.

Vividend Income Fund, a property loan stock company listed on the JSE, returned sparkling growth in its unaudited results for the six months ended February.

Listed property loan stock company Vividend Income Fund said it had entered into agreements which, if successfully concluded, would result in it acquiring 90% of Access Park, in Kenilworth, Cape Town, for R483m.

Vividend Income Fund has entered into an agreement with Fortress Income 3 (Pty) Ltd to acquire the property and associated letting enterprise commonly known as Continuity SA ("the Continuity SA Property") situated at 308 Kent Avenue Ferndale Randburg ('the Continuity SA Acquisition").

Revenue for the year increased to R134.6 million (R36.5 million) and net property income jumped to R96.6 million (R28.6 million). Operating profit was greater at R88.1 million (R26.9 million). Total comprehensive income shot up to R18.4 million (R3.2 million). Furthermore, headline earnings per linked unit were higher at 48.67 cents per linked unit (39.14 cents per linked unit).

Vividend Income Fund’s (Vividend) recent acquisition of the R790 million Vusani portfolio, financed by Nedbank Corporate Property Finance, reaffirms bank’s position as the market leader in the commercial property finance industry

Vividend expects its distribution per linked unit to rise between 141% and 151% in the six months to February.

Property loan stock company Vividend Income Fund says it has entered into an agreement with Vusani Property Investments to acquire a portfolio of retail and commercial properties for R790m.