Publications
Partners
Johannesburg - Continuing its strategic growth, Dipula Income Fund announced on Thursday that it will acquire a portfolio of six rental income producing retail properties from Redefine Properties for R425m.
The portfolio includes Soweto shopping centres Meadowpoint Shopping Centre, Proteapoint Shopping Centre, Dobsonpoint Shopping Centre and Pimville Square.
Kudube Hammanskraal Centre and Kudube Kopanong Centre, are both situated in Hammanskraal in the North West Province.
“The acquisitions further Dipula’s strategic investment focus on retail assets in underserviced areas, giving it unique access to the dense Soweto and Hammanskraal market. For Dipula, these shopping centres are a great match and enhance our portfolio,” said Izak Petersen, CEO of Dipula.
The purchase consideration will be settled by 25% cash and 75% through the issue of Dipula A and B linked units. The transaction is subject to meeting certain conditions, including Competition Commission approval.
Dipula’s diversified property portfolio comprises 179 retail, industrial and office properties consisting of 577 000m² of lettable area located countrywide.
By size, Dipula’s portfolio is 71% concentrated in Gauteng. It is also weighted towards retail property which comprises 55% of its portfolio.
“This transaction furthers our growth through good acquisitions and also ensures sustainable growth in the long term for investors,” said Petersen.
- Fin24
