Industrial warehouse, office park buy

MAS Real Estate, which has a primary listing on the Euro-MTF market of the Luxembourg Stock Exchange and a secondary listing on the JSE’s AltX, has through two wholly-owned subsidiaries acquired an industrial warehouse and office park close to the town centre of Chippenham in the UK for e40.25 million (R587m). The effective date of the transaction was Monday, all conditions precedent have been fulfilled and the purchase price was entirely funded from the proceeds of the capital raising undertaken by MAS in February. The property comprises almost 20 hectares split over three zones, with zones 1 and 2 comprising 11.7 hectares of industrial, warehouse, office and storage space and zone 3 a mix 7.7 hectares of short-term and vacant industrial and warehouse buildings. The current annual rent roll of the property is e2.3 million a year. The company said the acquisition would become the largest single asset in MAS’ property portfolio in terms of both size and value. Attacq, the JSE-listed capital growth property company whose flagship project is the development of the Waterfall estate in Midrand, owns 47.2 percent of MAS. – Roy Cokayne