INVESTEC ACQUIRES $65M VALLEY PROPERTY

INVESTEC ACQUIRES $65M VALLEY PROPERTY

INVESTEC Australia Property Fund (IAPF) has taken its portfolio to $250 million following the latest acquisition of a $65.5 million office complex in Fortitude Valley.

Located at 757 Ann Street, the property has attracted major tenants including a ten year contract with Ventyx and five year contract with Corporate House Services.

IAPF CEO Graeme Katz says this is the third acquisition made within the last year, further diversifying the company’s assets and capabilities.

“This major addition to the [IAPF] is a value accretive transaction secured on attractive terms representing an initial yield of 8.35%,” says Katz

“It aligns well with our aim to grow the asset base by investing in high-quality properties situated in key metropolitan areas.”

Since listing in South Africa in late 2013, IAPF has experienced an asset growth of 86 per cent, expanding the portfolio to include six industrial and five office properties situated within commercial metropolitan areas.

Enjoyed this article?

Don't miss out on the knowledge and insights to be gained from our daily news and features.

Subscribe today to unlock unlimited access to in-depth business coverage, expert analysis, and exclusive content across all devices.

Support independent journalism and stay informed with stories that matter to you.

Subscribe now and get 50% off your first year!

Four time-saving tips for automating your investment portfolio
Partner Content
In today's fast-paced investment landscape, time is a valuable commodity. Fortunately, w...
Etoro
Advertisement

Related Stories

“Not our desired outcome”: Telix withdraws from $300m Nasdaq IPO

“Not our desired outcome”: Telix withdraws from $300m Nasdaq IPO

Telix Pharmaceuticals (ASX: TLX), one of the nation’s largest...

CommBank joins new ‘intelligence loop’ to combat SMS phishing scams

CommBank joins new ‘intelligence loop’ to combat SMS phishing scams

In an effort to reduce the number of SMS phishing scam victims...

Stralis Aircraft secures funding to make commercial hydrogen planes a reality

Stralis Aircraft secures funding to make commercial hydrogen planes a reality

Brisbane-based Stralis Aircraft has become one step closer to its a...

A year after the PwC scandal, the furore is gone – as well as the appetite for structural change

A year after the PwC scandal, the furore is gone – as well as the appetite for structural change

It was a scandal that rocked the shaky foundations of Australia&rsq...