National Property Portfolio on Auction

National Property Portfolio on Auction
Loading

Fairvest Property Holdings Junction’s notarial lease acquired

January 30 2013 at 08:00am
By Roy Cokayne

Comment on this story

Fairvest Property has acquired the notarial lease over the Nyanga Junction retail centre in Cape Town from Momentum for R58 million. The transaction will be funded through debt and/or equity funding and will be effective on or about April 1. The company said the acquisition was consistent with its growth strategy of focusing on acquiring retail assets with a weighting in favour of non-metropolitan areas and lower LSM (Living Standards Measure) sectors. The centre, situated at the Nyanga train station, was a prime example of commuter retail and at 10 079m2 was the right size for its target market, it said yesterday. The transaction is still subject to a number of conditions. Shares closed unchanged at R1.35. – Roy Cokayne


sign up
 
 

Comment Guidelines


  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

     

Join us on

 IOL-Social networks IOL-Social networks IOL-Social networks IOL-Social networks
IOL Travel

Make sure you find the best available airfares with our easy-to-use search engine.

Travel_pic_enw
Sudoku