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 104 properties in South Africa, with a total gross lettable area (GLA) of 1 243 331m² valued at R17.6bn.
 
IPF’s local investment portfolio consists of a R0.1bn investment in Ingenuity Property Fund and a R0.2bn investment in Izandla Property Fund (Pty) Limited (Izandla Property Fund).
 
To bring geographic diversification and exposure to quality real estate in developed markets, IPF’s offshore investments include Investec Australia Property Fund(IAPF) of R1.2bn, Investec Argo UK Property Fund (U.K. Fund) of R0.2bn an investment into a Pan-European logistics portfolio of R1.3bn.
 
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 104 27 12 15 22
GLA 1,243 331 m 2 285 587 m 2 94 297 m 2 66 317 m 2 97 4690 m 2
Value R17.6bn AU$1.013bn £216.25m R810m €463.9m
Holding 100% 20.9% 10% 35% 42.9%
Fund Performance

Performance

Strong performance considering the challenging operating environment. IPF delivered 1.7% year-on-year growth in base net property income for the six months ended September 30, 2018. Net asset value per share grew by 2.9% while vacancy reduced to 3.1% from 4.0% in March. An interim distribution of 68.81 cents per share for the period was declared.

5

.4

%

Normalised distribution growth

2

.9

%

Increase in NAV

3

.1

%

Vacancy (Mar 2018: 4.0%)

91

.0

%

Of space expiring in the period renewed or re-let

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