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Oct 02, 2007:
Property group ApexHi (API) has bought the Game Gardens retail development in George for R87,5m and at the same time sold its Rivonia Square mall for R196m, it said on Monday.
The 11,000sq m retail development has an initial yield of 10,27% before gearing, and the sale of Rivonia Square mall - which was sold to Sharemax - is at an 8,2% yield.
Game Gardens is anchored by Game and Checkers with leases that run through to the end of May 2009. - Tiisetso Motsoeneng, I-Net Bridge
