Tower Property Fund: Durbanville mall bought for R226m

Comment on this story

Tower Property Fund had acquired the De Ville Shopping Centre in Cape Town from Attacq for R226 million, Tower reported yesterday. Situated at the corner of Wellington and Main roads in Durbanville, the property has a gross lettable area of 13 455m², of which 2 558m² consists of a B-grade office tower above the retail centre and includes 515 undercover parking bays. The fund said the acquisition was in line with its strategy of targeting good-quality, well-located, medium-sized properties in major metropolitan areas. The transaction is expected to be effective from April 1 but is subject to conditions, including approval by the competition authorities, Tower and De Ville’s boards, and obtaining a loan. Tower shares added 2.44 percent to close at R8.40 and Attacq put on 1.62 percent to R18.19. – 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.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines