Arrowhead FY distribution per combined unit up 17.9% to 133.24c

Arrowhead Properties (AWB) has delivered a 17.9% rise in distribution per combined unit to 133.24c in the year to the end of September from a year ago.

The property fund said vacancies within its portfolio‚ excluding residential vacancies‚ were at 6.26%.

The decline was primarily due to the acquisition of substantially fully let properties together with some reduction in the portfolio at the time of listing.

“The acquisitions concluded during the year‚ especially the Vividend acquisition‚ have resulted in an improved portfolio quality from a size and lease length period perspective‚” the company said.

The number of commercial properties within the portfolio increased from 89 at listing in 2011 to 155 at present‚ with the average value per property increasing from R17m to R45m.

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