Investec Property Fund

Investec Property Fund

Investec Property Fund

Investec Property Fund Limited (IPF) is a South African Real Estate Investment Trust (REIT) which listed on the Johannesburg Stock Exchange (JSE) in 2011.The investment portfolio is made up of direct and indirect real estate investments in South Africa, Australia, the UK and Europe. The direct investments comprise 102 properties in
South Africa, with a total gross lettable area (GLA) of 1,197,921m² valued at R17.3bn.
 
IPF’s local investment portfolio consists of a R0.2bn investment in
Izandla Property Fund (Pty) Limited (Izandla Property Fund).
 
To introduce geographic diversification and exposure to
quality real estate in developed markets, IPF’s offshore investments
include Investec Australia Property Fund (IAPF) of R0.7bn, Investec Argo UK Property Fund (U.K. Fund) of R0.2bn and an investment into a Pan-European logistics portfolio of R1.7bn. IPF has also recently announced its intention to invest into a Pan-European light industrial portfolio.
 
IPF’s objective is to optimise capital and income returns over time for shareholders. We do this by investing in well-priced, income-producing properties in the office, industrial and retail sectors.
 
IPF is a company incorporated in South Africa with registration number 2008/011366/06, listed in the Real Estate Holdings and Development sector and obtained REIT status on 1 April 2013.   

Diversification across core developed markets.

IPF’s diversified balance sheet, with investments into three developed markets offshore as well as a quality local investment and direct real estate portfolio, ensures IPF delivers on its objective to optimise capital and income returns over time for shareholders.  

SA properties IAPF investment U.K. Fund investment Izandla investment European logistics investment
Number of properties 102 28 10 15 25
GLA 1,197 921 m 2 290 281 m 2 89 520 m 2 66 317 m 2 1,012 000 m 2
Value R17.3bn AU$1.063bn £234m R740m €516m
Holding 100% 9.9% 10% 35% 42.9%
Fund Performance

Performance

Strong performance considering the challenging operating environment. IPF delivered 0.8% year-on-year growth in base net property income for the year ended 31 March 2019. Net asset value per share grew by 3.9% while vacancy reduced to 2.4% from 4.0% in March. A final distribution of 73.51 cents per share for the period was declared, resulting in normalised full year distribution growth of 5.1%

5

.1

%

Normalized full year distribution growth

3

.9

%

Increase in net asset value (NAV)

2

.4

%

Vacancy (March 2018: 4.0%)

35

.9

%

Gearing

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