Growthpoint buys two properties for R114.4m
2007-11-26 · Company News
Property group Growthpoint Properties has bought two letting properties for R114.4 million to profit from office rental exposure to Gautrain stations, it said on Friday.
The group bought Grand Central Extension 1 Township in Midrand for 64.4 million rand and Rosebank Township – which is situated at the remaining extent of Erf 132 in Rosebank – for 49.5 million rand.
The acquisitions are expected offer Growthpoint increased exposure to the Midrand and Rosebank office markets, which are expected to provide attractive returns considering the impact of the Gautrain and the proposed stations in the areas, the group said.
The group bought Grand Central Extension 1 Township in Midrand for 64.4 million rand and Rosebank Township – which is situated at the remaining extent of Erf 132 in Rosebank – for 49.5 million rand.
The acquisitions are expected offer Growthpoint increased exposure to the Midrand and Rosebank office markets, which are expected to provide attractive returns considering the impact of the Gautrain and the proposed stations in the areas, the group said.
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