https://www.engineeringnews.co.za

Dipula inks property deals worth R336m

2nd March 2015

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

JSE-listed real estate investment trust Dipula Income Fund has entered into agreements to acquire the Umzimkhulu Shopping Centre, in KwaZulu-Natal, as well as the Corporate Industrial Park, in Polokwane, from two different vendors for R336-million.

The industrial park in Limpopo’s capital was bought for R143-million and comprised modern industrial units occupied primarily by blue-chip tenants.

This fully tenanted property offered 28 000 m2 of gross lettable area (GLA) with additional bulk available for expansion.

The 15 740 m2 Umzimkhulu Shopping Centre, on KwaZulu-Natal’s South Coast, was bought for R193-million and was primarily occupied by national tenants.

Some 87% of the centre’s total GLA was currently let, while additional bulk remained available for future expansion.

Once implemented, the transactions would boost the value of Dipula’s South African portfolio to R5.7-billion, with 56% of this comprising retail properties, 25% industrial and 19% office space.

The company announced on Monday that both transactions remained subject to certain conditions precedent, including Competition Commission approval.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 
Multotec
Multotec

Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.069 0.123s - 137pq - 2rq
Subscribe Now