Latest News

Rudolf Pienaar
July 02, 2015

Growthpoint's Rudolf Pienaar appointed Director of World Green Building Council

in Green Building and Sustainability
Rudolf Pienaar, Growthpoint Properties Divisional Director: Offices, has been appointed to the World Green Building Council’s (WorldGBC’s) Board of Directors.
ConsumerConfidence
July 02, 2015

FNB/BER consumer confidence plunges to 14-year low

in Office, Retail, Industrial, Hotels and Residential
In a quarter fraught with social unrest, political turmoil, frequent power outages and other economic headwinds, results from the 2Q2015 FNB/BER Consumer Confidence Survey show that consumer sentiment nosedived to a 14.5-year low. 
27boxesShoppingCentre
July 01, 2015

27boxes a shipping container development for a quirky shopping centre

in Office, Retail, Industrial, Hotels and Residential
27boxes a shipping container development for a quirky shopping centre.
Bridge Park Rabie
Jul 01, 2015

Bridge Park awarded 5-Star Green Star rating

Bridge Park awarded 5-Star Green Star rating.
WynbergCapeTown
Jul 01, 2015

Healthy sustained demand for commercial property

Well-positioned commercial property in outlying areas around South Africa is proving increasingly attractive to both…
Brian_Molefe
Jul 01, 2015

Government sells Vodacom stake to fund Eskom allocation

National Treasury has announced that government has sold its stake in Vodacom to the Public Investment Corporation…
Jones Lang LaSalle
Jul 01, 2015

Corporate Real Estate teams under increasing scrutiny from CEOs reports new JLL…

Skyrocketing C-suite demands for productivity are creating a “pressure cooker” of expectations for corporate real…
BradGeeBrollKenya
Jul 01, 2015

Broll Appoints Two Executives to Strengthen its Africa Business

Group CEO of the Broll Property Group today announced the executive appointments of Gordon Bell as Director for Broll…

Popular

More retail brands will benefit South African malls and consumers

Jun 11, 2015
Amanda Stops SACSC
South African shopping centres are truly world-class, says Amanda Stops, CEO of the South African Council of Shopping…

Global investors plan to increase cross-regional real estate acquisitions

Jun 04, 2015
Delta Mall Nigeria
According to a recent CBRE Global Investor Intentions Survey 2015, 53% of global investors plan to increase their…

Investec Property Fund acquires R826m Griffin portfolio

Jun 08, 2015
Nick Riley Investec Property Fund
Investec Property Fund on the verge of reaching its R10 billion asset base milestone.

Intu Properties and Canada Pension Plan Investment Board partners to own Puerto…

Jun 04, 2015
Puerto Venecia Shopping Centre
Intu Properties Plc and Canada Pension Plan Investment Board announce creation of a joint venture to jointly own Puerto…

Delta Property Fund appoints new Asset Management company

Jun 11, 2015
Sandile Nomvete Delta
Specialist government focused REIT, Delta Property Fund announced that it received shareholder approval to appoint a…

Texton Property Fund CEO and financial director resign

Jun 08, 2015
Rob Kane
Texton Property Fund announced that Rob Kane and Marelise de Lange have resigned as chief executive officer and…

Featured

  • Redefine reports distribution of 33.5c per linked unit

    Redefine Properties has declared a total distribution of 33.50c per linked unit for the 6 months ended February 2, 2010. Read More
  • Prime Industrial Stands for sale at Cosmo Business Park

    Strategically located and conveniently served by major road networks, Cosmo Business Park is a secure and competitively priced precinct situated within one of the fastest growing development corridors in Johannesburg. Read More
  • Mall@Carnival undertakes R180m expansion and introduces new retail brands

    Major Regional Centre, Mall@Carnival, undertakes R180m expansion to add 15,172 m2, growing the mall from a 72,300 m2 to 87,472 m2 by September 2015. Read More
  • 1
  • 2
  • 3

Video

Monday, 24 October 2005 02:00

CBS Property Portfolio to list on JSE

Published by 
Rate this item
(0 votes)
CBS Property Portfolio Limited today announced that it intends to list on the JSE on 2 November 2005.

CBS Property Portfolio Limited today announced that it intends to list on the JSE, in the ‘Financial – Real Estate’ sector, on Wednesday 2 November 2005.

The private placement of 37 million CBS linked units at 675 cents ahead of the listing should raise a total of R249,75 million. The placement will take place over four days, opening on Tuesday, 25 October 2005 and closing on Friday, 28 October 2005.

On listing, assuming the private placement is fully subscribed, CBS linked units in issue will total 80,275,054 at the issue price per linked unit of 675 cents.

CBS Property Portfolio is forecasting a distribution of 69 cents per linked unit for the year ending 31 October 2006, and the resultant forward yield per linked unit of 10.25%. Net asset value of 702 cents per linked unit is based on the pro forma balance sheet.

This listing brings together four of the most experienced and dynamic property professionals in the sector. Martin Ettin and Derek Greenberg have joined the entrepreneurial team of Gary Fisher and Sean Mackay as executive directors of CBS Property Group.

Martin Ettin and Derek Greenberg were co-founders of Primegro Properties Limited and drove the successful listing of Primegro.  They were later instrumental in the merger between Primegro and Growthpoint Properties Limited where they also served as executive directors.

CBS has been in the market since 1993 and its linked shares have traded successfully for the past two years, facilitated by Barnard Jacobs Mellet Private Client Services (BJMPCS) through their Over The Counter (OTC) market. Gary Fisher and Sean Mackay were key in compiling the CBS Property Portfolio which has been built up over a period of time comprising carefully selected properties originally included in successful property syndications in the Western Cape.

Mackay points out that there has been an increased awareness of the property loan stock sector, with average value traded improving by 88% from R5,3 billion for the 12 months to 30 June 2004 to R10,1 billion for the 12 months to 30 June 2005.

Fisher explains that CBS has delivered consistent growth through leadership, innovation and excellence and will continue to focus on improving the underlying quality of its property portfolio to provide consistent real growth in income and capital over the medium to long term.

“As a team of executive directors we are all personally invested in the future and the success of CBS Property Portfolio and strive to deliver sustainable and growing income streams to investors,” said Ettin and Greenberg.

CBS Property Portfolio will list with property assets valued at R987 million comprising 28 properties with a total of 190,475m2 and strong representation in both the Western Cape (42% by GLA) and Gauteng (35%) with the remainder in KwaZulu Natal.

The properties which comprise this portfolio include the core CBS portfolio of Dock Road Complex (Amway House and Queens Building) at the entrance to V & A Waterfront, Palm Grove Shopping Centre in Durbanville, Mellville’s Corner in Plettenberg Bay, Centre Point Shopping Centre in Milnerton and The Circle Shopping Centre in Somerset West.

The portfolio was substantially increased by the recent acquisition of properties, predominantly in Gauteng, from Yieldgro Group including 46% of The Wedge Shopping Centre in Morningside and WedgeField Bryanston.

CBS Property Portfolio also includes the recently acquired Brait Place in Illovo, Sandton and Malvern Centre in Qeensburgh, KwaZulu Natal and a portfolio of nine properties purchased from Growthpoint Properties Limited.

CBS intends to declare dividend distributions half yearly for the six-month periods ending 30 April and 30 October. The first dividend and distribution payable to linked unitholders in respect of the six-month period ending 30 April 2006, is expected to be declared in May 2006 and paid in July 2006.

Investec Bank Limited is investment bank and lead sponsor to the CBS listing with Barnard Jacobs Mellet Corporate Finance acting as co-sponsor.

~ End ~

Issued on behalf of CBS Property Group:

Gary Fisher, CEO

T: 021 426 1880/011 215 6440           C: 083 450 2222

Martin Ettin

Cell  083 325 1463

Derek Greenberg

Cell 083 325 1463

 

By Marketing Concepts:

Sandy Davey

T: 011 880 2213          C: 083 453 6668


Publisher: CBS Property Group
Source: CBS Property Group
Login to post comments

Listed Property, REIT, Real Estate Funds

Gerald Leissner

Indluplace portfolio grows to R2bn with Connaught acquisition

July 01, 2015 Listed Property, REIT, Real Estate Funds eProp Commercial Property News
Indluplace Properties Limited, the JSE’s first focused residential REIT, has acquired a residential portfolio from Connaught Properties for R420 million.

Office, Retail, Industrial, Hotels and Residential

ConsumerConfidence

FNB/BER consumer confidence plunges to 14-year low

July 02, 2015 Office, Retail, Industrial, Hotels and Residential eProp Commercial Property News
In a quarter fraught with social unrest, political turmoil, frequent power outages and other economic headwinds, results from the 2Q2015 FNB/BER Consumer Confidence Survey show that consumer sentiment nosedived to a 14.5-year low. 

Green Building and Sustainability

Rudolf Pienaar

Growthpoint's Rudolf Pienaar appointed Director of World Green Building Council

July 02, 2015 Green Building and Sustainability eProp Commercial Property News
Rudolf Pienaar, Growthpoint Properties Divisional Director: Offices, has been appointed to the World Green Building Council’s (WorldGBC’s) Board of Directors.

Commercial Property Auctions

WynbergCapeTown

Healthy sustained demand for commercial property

July 01, 2015 Commercial Property Auctions eProp Commercial Property News
Well-positioned commercial property in outlying areas around South Africa is proving increasingly attractive to both local and international buyers who continue to find value in sustainable investments, says Norman Raad, CEO of Broll Auctions and Sales.

Africa, International Property News

BradGeeBrollKenya

Broll Appoints Two Executives to Strengthen its Africa Business

July 01, 2015 Africa, International Property News eProp Commercial Property News
Group CEO of the Broll Property Group today announced the executive appointments of Gordon Bell as Director for Broll Africa operations in East Africa, and Brad Gee, as Managing Director of Broll Kenya with effect from 1 July. 

Construction, Energy and infrastructure

Brian_Molefe

Government sells Vodacom stake to fund Eskom allocation

July 01, 2015 Construction, Energy and Infrastructure eProp Commercial Property News
National Treasury has announced that government has sold its stake in Vodacom to the Public Investment Corporation (PIC) to raise funds for a R23 billion allocation to Eskom.

Most Popular

More retail brands will benefit South African malls and consumers

Jun 11, 2015
Amanda Stops SACSC
South African shopping centres are truly world-class, says Amanda Stops, CEO of the South…

Global investors plan to increase cross-regional real estate acquisitions

Jun 04, 2015
Delta Mall Nigeria
According to a recent CBRE Global Investor Intentions Survey 2015, 53% of global…

Investec Property Fund acquires R826m Griffin portfolio

Jun 08, 2015
Nick Riley Investec Property Fund
Investec Property Fund on the verge of reaching its R10 billion asset base milestone.

Intu Properties and Canada Pension Plan Investment Board partners to own Puerto Venecia Shopping Centre

Jun 04, 2015
Puerto Venecia Shopping Centre
Intu Properties Plc and Canada Pension Plan Investment Board announce creation of a joint…

Delta Property Fund appoints new Asset Management company

Jun 11, 2015
Sandile Nomvete Delta
Specialist government focused REIT, Delta Property Fund announced that it received…