Fountainhead to dispose of 27 properties
Property unit trust Fountainhead, which is managed and 66%-owned by Redefine Properties, has released 27 of its relatively smaller properties to the market, in line with its strategy of focusing on larger core assets.
The properties to be sold included office and industrial properties, as well as one small retail asset, in the greater Johannesburg and Midrand area.
“These disposals are an important step in our strategy to concentrate our efforts on our core portfolio of larger property assets. Once these disposals have been completed, together with other properties held for sale, Fountainhead would have effectively halved the number of properties in its portfolio from the current number of 64. Yet, the disposal properties represent less than 5% of the value of Fountainhead’s property portfolio,” Fountainhead CEO Len van Niekerk said.
He added that, because of the large number of properties involved in the disposal, and broad market interest, Fountainhead was applying a process to dispose of these properties in an efficient, effective and transparent way.
“We are using cutting edge technology to manage multiple offers optimally,” Van Niekerk stated, clarifying that the disposals would not take the form of an online auction.
“What makes Fountainhead’s disposal process different is that buyers will be able to access all information, including the due diligence information online. They will also be able to submit offers online,” he stated.
Fountainhead’s diversified portfolio of properties was currently valued at R11.8-billion, with 75% of its properties by value being well-established metropolitan shopping centres.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
As a reticulator, Egoli Gas provides natural gas to homes and businesses via underground pipes.
VISIT SHOWROOM
ATI systems comprises five divisions: electrical assemblies, drives and controls, feedback sensors, enclosures, and strip guiding.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
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?
Receive 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)
➕
Recieve 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
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
