Go West, young prop­erty fund

Finweek English Edition - - COMPANIES & MARKETS -

Th­eS­PEC­ta­cle HAS its roots in a small (not ex­actly pic­turesque) East­ern Cape town, so we’re not prone to dis­parag­ing re­marks about dor­pies. Still, re­cently listed prop­erty group ac­qui­si­tion strat­egy – es­pe­cially pay­ing R39m for a shop­ping cen­tre in Beau­fort West – does raise an eye­brow. Surely Viv­i­dend could have pock­eted the whole town for that price?

If there’s any jus­tice in this world Th­eS­PEC­ta­cle will pay for that churl­ish re­mark by hav­ing to note (and record) a high yield­ing per­for­mance from the much-ma­ligned Beau­fort West shop­ping cen­tre in years to come.

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