V&A WaterfrontWe part-own the V&A Waterfront in Cape Town, South Africa, one of the finest waterfront developments in the world and a premier property asset in Africa. Together with the Government Employees Pension Fund, represented by the Public Investment Corporation Limited (PIC), we purchased this property in equal proportions.
The transaction is South Africa’s biggest single property one to date, with a combined investment of some R9,9 billion. The property has an established record of performance and further growth will come from development of the undeveloped bulk. It has a well-established portfolio of properties across the retail, office, hotel and industrial sectors, with attractive rentals, rental escalations and lease expiry profiles. There is a mix of long-term high profile retail and business tenants.”
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