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September 01, 2015

Redefine International dispose remaining shareholding in Cromwell Property Group

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Redefine International, the FTSE 250 UK Real Estate Investment Trust announces that it has disposed of its entire remaining shareholding in the Cromwell Property Group, held through its 100% owned subsidiary Redefine Australian Investments Limited.
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September 01, 2015

Rockcastle Global Real Estate Company Limited accelerated book build to raise R1bn

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Rockcastle Global Real Estate Company Limited accelerated book build to raise R1bn.
September 01, 2015

Shopping centre REIT, Hyprop Investments delivers exceptional returns for shareholders

in Listed Property, REIT, Real Estate Funds
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Video

Monday, 30 September 2013 20:46

Broll backs Auas Valley Shopping Centre re-development in Namibia

Published By  Commercial Property News
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Furthering the growth of formal retail on the African continent, Namibia’s Auas Valley Shopping Centre is undergoing a huge upgrade with Broll Namibia at the helm of leasing, bringing the latest local and international retail concepts to the region’s consumers. 

Auas Valley Shopping Centre, NamibiaThe Phase One development by investor Agra will see the centre refurbished, upgraded and refreshed to create a vibrant modern shopping environment. It will add even more retail space in the centre to meet the growing needs of local consumers and take the centre into the future.

Malcolm Horne, CEO of Broll Property Group, which provides professional real estate services in over 15 sub-Saharan countries from its eight offices in the country, says: "Auas Valley Shopping Centre responds to increasing consumer needs, typical of those being experience by the emerging middle class in many African regions. These growing consumer markets are attracting interest from retailers seeking to unlock new opportunities and driving up demand for formal retail space."

Namibia is one of the region's fastest growing markets, positioning the upgrade of the Auas Valley Shopping Centre for success. Auas Valley Shopping Centre is in located in the busting southern industrial area of Windhoek.

Horne says the enhanced Auas Valley Shopping Centre will offer a heightened shopping experience and will be a welcome addition to the country's blossoming retail landscape.

Celebrating its 10th year of business success, Broll Namibia is a strategic partnership between the Broll Property Group and the Ohlthaver & List Group of Companies in Namibia. It was founded in 2003, and manages properties valued over N$ 1.3 billion, including some of the most prestigious buildings and shopping centres in Namibia.

"This project creates a modern top-class retail environment that will easily find its place in Windhoek's retail sector, which is growing substantially and set to carry on in the immediate future," says Horne. "Strong consumer spending and stable political conditions are also attracting a variety of South African retailers."

Marco Wenk, MD of Broll Namibia, says: "The N$120-million Phase One is already underway and includes refurbishing the existing mall, erecting a new parking deck, a new mall entrance facade as well as upgrading and creating new retail shops. It will be complete in September 2014."

Wenk adds the project also includes the upgrade and refurbishment of retailers Pick n Pay, Safari Den, Nictus, Agra, Looks Hair Design, Auas Vet Med, Bank Windhoek and a redesign of the Auas Pharmacy to include doctors' consulting rooms.

"The new tenant mix will offer wider variety for shoppers," notes Wenk. It will include Steers, Debonairs, Fishaways, Fresh & Wild, the first Pep Home in Windhoek, SA Electronics, Silverberry, a coffee shop and a sushi restaurant, Classic Pet Boutique, La Mareez, Happy Shop, Colour Fashions and a carwash.

Wenk says: "The upgrade of Auas Valley Shopping Centre will secure and grow its market share thanks to a new contemporary design that offers more choice and convenience."

Last modified on Monday, 14 April 2014 15:26
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Listed Property, REIT, Real Estate Funds

CEO_Mike_Watters_Redefine

Redefine International dispose remaining shareholding in Cromwell Property Group

September 01, 2015 Listed Property, REIT, Real Estate Funds eProp Commercial Property News
Redefine International, the FTSE 250 UK Real Estate Investment Trust announces that it has disposed of its entire remaining shareholding in the Cromwell Property Group, held through its 100% owned subsidiary Redefine Australian Investments Limited.

Office, Retail, Industrial, Hotels and Residential

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September 01, 2015 Office, Retail, Industrial, Hotels and Residential eProp Commercial Property News
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