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Vunani to acquire Bryanston Gate office park

24th October 2013

By: Leandi Kolver

Creamer Media Deputy Editor

  

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JSE-listed Vunani Property Investment Fund (VPIF) has entered into a R174-million agreement to acquire the 15 233 m2 Bryanston Gate office park.

The property, which is located on the corner of Main road and Homestead avenue, in Bryanston, has 43 leases, with major tenants including Primary Asset Management, Nampak Products and City Lodge Hotels.

VPIF stated that the transaction was a step towards its stated intention to grow its portfolio through the acquisition of high-quality yield-enhancing properties.

Bryanston Gate was expected to deliver an initial yield of 10.83%.

The transaction was conditional on Competition Commission approval and the transfer of the property and would become effective on the date of registration of the transfer of the ownership of the property.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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