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Leasing / Ownership /Management

Pivotal Property Fund adds R1.5bn property assets to its basket

Unlisted Pivotal Property Fund on Wednesday said it had acquired R1.5 billion property assets from Standard Bank Properties which includes Sandton’s landmark Alice Lane development — and is considering listing on the JSE. ... Full story

Dipula absorbs six shopping centres for R425m

Dipula Income Fund has acquired 6 shopping centres from Redefine Properties for a consideration of R425-million, 25% of which will be settled in cash and the balance in Dipula A and B linked units. ... Full story

Vunani Property buys Edcon Place for R150m

Vunani Property Investment Fund (VPF) announced on Thursday that it had acquired the office block‚ Edcon Place‚ located in the Johannesburg CBD for R150.47m. ... Full story

Public Works loses millions in rentals

The Eastern Cape Roads and Public Works Department has lost millions in the past two decades over the non-payment of rentals at 25 government-owned houses across the province. ... Full story

Redefine Properties swallows Macsteel’s portfolio for R2.7bn

A month after hitching R2.1bn takeover of Annuity Properties and receiving an acquisition approval of Fountainhead portfolio valued at R12bn, Redefine Properties today said it concluded yet another acquisition of Macsteel’s property portfolio for R2.7bn. ... Full story

Arrowhead Properties confirms exposure to African Bank

Arrowhead Properties Limited on Monday announced that it has insignificant exposure to the embattled African Bank Investments Limited (ABIL), which has been placed under curatorship by SA Reserve Bank. ... Full story

BRIEF-Dipula disposes some of its non-core properties

Dipula Income Fund on Tuesday said it had concluded agreements to sell 13 properties for a total purchase consideration of R51.8 million, which will be used to reduce debt. ... Full story

Government reclaims Vlakplaas

The state has reclaimed the notorious Vlakplaas from a right-wing religious fundamentalist, who claimed he was a "squatter" and could not be evicted, according to a report. ... Full story

Tradehold acquires Collins group outside South Africa

Property and retail investment group Tradehold (TDH) has entered into a memorandum of understanding to acquire the bulk of the commercial property holdings of the Collins group outside of South Africa. ... Full story

Public Works to reclaim disputed state properties

The Department of Public Works is taking legal action to reclaim property and land appropriated by private individuals during the 1994-95 transition to democracy. ... Full story

A marked increase of Foreign Property Buyers

Offshore investors looking for second homes in wealthy hot spots like Clifton and Plettenberg Bay are returning to SA after a virtual absence from 2009 to 2011. ... Full story

Government spends R60m for 'ghost' buildings

The government has been spending R60-million a year on 108 vacant buildings and R12-million on 12 buildings occupied by non-governmental tenants. ... Full story

Investec Property Fund adds R430m to portfolio

Investec Property Fund (IPF) said last week it had bought new properties worth R430 million, Dihlabeng Mall in Bethlehem Free State and the Foschini Building in the Johannesburg CBD. ... Full story

‘Suarez’, have a bite on Municipal rates?

The continued rise of interest rates, municipal property rates and taxes, including electricity and water in the South African commercial property sector is worrying owners, tenants and property services company. ... Full story

Property Management — A matter of Give and Take

Pareto Limited on Monday said it had taken property management in-house and consolidated trading activities under one specialised business unit, while Investec Property Fund Limited come out in support to outsource its management. ... Full story

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