07 Sep 2012
Dipula signed agreements to acquire the 5 048 square metre Absa Call Centre building in Arcadia for R82.6 million, the 21 478 square metre SAPS VIP building in Sunnyside for R229.86 million and the 7 699 square metre SAPS IJS building in Erusmuskloof for R118.54 million, from the developer of the three properties.
Izak Petersen, chief executive offcier of Dipula Income Fund, says the acquisitions enhance Dipula’s office portfolio.
“They are modern, high-quality, single-tenanted office buildings with A-grade corporate and government tenants.”
Petersen says the acquisitions continue Dipula’s strategy to improve the quality and average size of its portfolio, on a yield enhancing basis.
By acquiring these assets, Dipula is also gaining access to the Pretoria office market, improving the geographic diversification of their portfolio, he says.
This is Dipula’s third major property acquisition transaction since listing on the JSE in August 2011.
In this time it has grown its assets from 176 to 185 sectoraly and geographically diverse properties, and its asset value from R2.1 billion to R3.1 billion.
Dipula is finalising the acquisition’s financial effects and, until announced, it advises Dipula linked unitholders to exercise caution when dealing in its linked units.
The transaction is subject to various conditions, including Competition Authorities approval.
Meanwhile, the Competition Commission has given the green light to Dipula Income Fund’s acquisition of three shopping centres for a combined investment of nearly R330 million.
The transaction comprises R179.5 million for the 25 700 square metre The Plaza Shopping Centre in Phuthaditjhaba, Free State, R46.2 million for the 6 000 square metre Randfontein Station Shopping Centre in Gauteng and R104.2 million for the 14.700 square metre Bushbuckridge Shopping Centre in Mpumalanga.
Dipula linked units are delivering sterling performance on the JSE with the A units up by more than 24 percent from the listing price of R8.58 per A linked unit to a trading price of R10.65 per A linked unit on 30 August 2012.
Dipula B linked units up by roughly 23 percent from listing at R5.53 per B linked unit to trading R6.80 per B linked unit to the same date, excluding income returns.
Petersen adds that these strategic acquisitions improve the quality, diversity and average size of properties in Dipula portfolio and they intend to continue growing the portfolio in line with the company’s investment objectives.
Vacant Land / Plot for sale in Kliprivier R 4 580 950
House for sale in Onverwacht R 853 000
Vacant Land / Plot for sale in Wilderness R 850 000
House for sale in Homelake R 795 000
House for sale in De Oude Spruit R 2 090 000
Apartment / Flat for sale in Umhlanga Ridge R 1 050 000
Townhouse for sale in Terenure R 575 000
Townhouse for sale in Winchester Hills R 830 000
House for sale in Birch Acres & Ext R 1 195 000
Apartment / Flat for sale in Annlin R 900 000
If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.
For the best browsing experience update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.
Please contact our Customer Service Centre for further assistance. Tel. +27 (0)861 111 724