Company at a glance
Equites listed as the only specialist industrial property fund on the JSE on 18 June 2014. The company is a Real Estate Investment Trust (“REIT”) and both the property and asset management functions are managed internally.
The company aims to provide investors with pure exposure to high quality logistics properties let to investment grade tenants both in South Africa and the United Kingdom. The company has a proven ability to identify and acquire well located logistics assets that meet the requirements of large, institutional tenants. In South Africa, this is complemented with the in-house development of modern logistics facilities, enabled by strategic land
All the company’s assets are in proven logistics nodes near large population centres and major transport links that have predictable patterns of strong rental growth. The company focuses on premium “big-box” distribution centres, let to investment grade tenants on long-dated ”triple net” leases, built to institutional specifications. The locations of preference
are Cape Town and Gauteng in South Africa and the central Midlands and “last-mile” fulfillment centres near major conurbations in the United Kingdom.
The company controls 35.7 hectares of prime industrial land Gauteng and Cape Town on which it has a substantial contracted pipeline including new distribution centres for Puma South Africa and Rohlig-Grindrod.
Fund highlights as at 28 February 2017
- 23 November 2016: Accelerated book build raises R1 billion of new equity
- 2 November 2016: Equites announces forward commitment to acquire new distribution centre in Stoke-on-Trent being developed by Prologis UK for £18,141,000, let to DSV
- 13 October 2016: Equites announces 20% growth in distributable earnings for the 6 months ending 31 August 2016
- 27 September 2016: Equites releases trading statement indicating strong distribution growth of between 16.7% - 20% for the 6 months ended 31 August 2016
- 26 September 2016: Equites announces acquisition of £17,000,000 distribution centre in Stoke-on-Trent, England let to Amazon UK
- 27 May 2016: Equites annouces acquisition of £28,000,000 distribution centre in Hinckley, England let to Tesco PLC at 7.2% yield
- 20 May 2016: Equites announces JV with Attacq and acquisition of R728 million of logistics assets in Waterfall, Gauteng
- 5 May 2016: Equites releases annual results for the year ended 29 February 2016 and delivers strong distribution growth of 18.3%
- 29 March 2016: Equites announces bumper distribution growth of between 16.3% and 18.8% for the year to 29 February 2016 on an adjusted full year basis
- 17 February 2016: Equites achieves Practical Completion on TFG's new 22,227m2 distribution centre in Midrand 6 weeks ahead of schedule
- 5 November 2015: Equites announces successful accelerated book build raising R1.5 billion
- 3 November 2015: Equites announces conclusion of JV with Grindrod to develop R260 million distribution centre for Rohlig-Grindrod
- 15 October 2015: Equites releases results for the 6 months ended 31 August 2015, outperforming previous forecasts and growing asset value to R3.5 billion
- 14 September 2015: Equites announces acquisition of vacant land (Atlantic Hills) and conclusion of agreement to develop new R150 million distribution centre and head office for Puma
- 27 August 2015: Equites announces acquisition of minority interest in TFG distribution centre and further 17 hectares of vacant land at Lord's View Midrand for R180 million
- 19 August 2015: Equites announces acquisition of Tunney Ridge Business Park for R137 million
- 28 May 2015: Equites announces the acquisition of Intaprop's R1.9 billion portfolio including 21 hectares of vacant land