Equites Property Fund Announces The Sale Of Land And Turnkey Developments In Basingstoke England
Equites Property Fund Announces The Sale Of Land And Turnkey Developments In Basingstoke England. Equites Property Fund has announced that it has sold land and Turnkey developments in Basingstoke.
Equites is the only specialist logistics property fund on the JSE. The company is a Real Estate Investment Trust (“REIT”) with both the property and asset management functions managed internally. The company listed on the JSE on the 18th of June 2014 with a portfolio value of R1 billion. 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.
Equites’ offshore strategy is to build scale in the top-end of the United Kingdom (“UK”) logistics market through its partnership with Newlands Property Developments LLP (“Newlands”). This partnership affords Equites the opportunity to unlock world-class distribution facilities in the UK at a discount to open market values. The potential pipeline of development opportunities is estimated to be £1 billion (ZAR 20 billion) over the next five years, on a cost basis. To implement and fund this strategy, Equites will from time-to-time undertake turnkey developments for third parties and/or land disposals.
Newlands Developments is a newly formed industrial property developer, established in 2018 by three shareholding directors of Roxhill Developments, following the sale of part of the business to SEGRO PLC. The Newlands directors, under the Roxhill banner, controlled over 2,000 acres of land in strategic locations throughout the UK. They helped to establish Roxhill as a market leading logistics developer in the UK, developing facilities for customers including Amazon, DHL, Howdens, Nestle, H&M, DPD, DSV, Kuehne & Nagel.
