Portfolio

The Buffet transaction
Gauteng and Kwazulu-Natal

The Buffet transaction will add 2 803 residential units and 2 970 sqm of retail to our portfolio. It also includes two buildings in Durban, Kwazulu-Natal (Indluplace will then have representation in four provinces – building our national footprint!). The 48 properties are diverse ranging from recently converted, large inner city blocks to higher end townhouse complexes and recently refurbished suburban apartment blocks, catering for a range of rentals and tenants. Ten of the complexes are still in the final stages of refurbishment and will provide high quality finishes and great value for money on completion.

The R1,35bn transaction includes pre-emptive rights on developments of an additional R500 million.

The acquisition is subject to Competition Commission and shareholder approval and we anticipate an effective date in October 2017. The cat 1 circular should be posted by end of August 2017 and will contain detailed information.

Portfolio Buffet transaction
Townships Various Johannesburg suburbs and Durban
Buildings 48
Rooms 181
Bachelors 92
One bed 787
Two beds 1 469
Three beds 214
Other 60
Total units 2 803
Retail 2 970m²

Benoni redevelopment

Jacsons Cove, Jhb South

Jacsons Cove, Jhb South

Kempton Park

Killimanjaro, Jhb South

Killimanjaro, Jhb South

Noordheuwel under development

Noordheuwel under refurbishment

Randburg CRM

Rothchild Manor, Roodepoort

Upper East Side, Boksburg

Upper East Side, Boksburg

Upper East Side, Boksburg

Villa Mia, Benoni