Property: Tower acquires Clifton Place

The Clifton Place office building share block company and scheme in Durban has been acquired by listed Tower Property Fund for R80.5 million. Tower said yesterday that the acquisition was in line with the fund’s strategy of targeting good quality, well located, medium-sized properties in major metropolitan areas. It said the property was located alongside the well-known Musgrave Shopping Centre in Berea and located conveniently for staff from aManzimtoti in the south to uMhlanga in the north. Tower said that with the exception of 226m2 that was vacant, the building was fully occupied. – Roy Cokayne