Group to build retail centre
2007-08-20 · Company News
A property group is to buy land and fund the development of a retail complex to be called The Village Walk in the Northern Cape.
The deal will cost Diversified Property Fund (Diversified) R134.6m of which R6.3m will be paid in cash on transfer of the property into Diversified's name and the balance upon receipt of progress certificates, it said on Wednesday.
The 19,824sq m retail centre, which will be 100% owned by Diversified, would be anchored by Spar and will include most major retail clothing retailers.
The average monthly rental attributable to the development is expected to amount to R60.63/sq m. - Tiisetso Motsoeneng, I-Net Bridge
The deal will cost Diversified Property Fund (Diversified) R134.6m of which R6.3m will be paid in cash on transfer of the property into Diversified's name and the balance upon receipt of progress certificates, it said on Wednesday.
The 19,824sq m retail centre, which will be 100% owned by Diversified, would be anchored by Spar and will include most major retail clothing retailers.
The average monthly rental attributable to the development is expected to amount to R60.63/sq m. - Tiisetso Motsoeneng, I-Net Bridge
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