UK-BASED New Frontier Properties is being cautious about new acquisitions after the Brexit referendum."Consistent with its strategy, the company is continuing to pursue dominant retail assets in towns in the UK. However, following the UK’s surprise decision to vote to leave the EU, new acquisitions have been delayed," the company said on Friday.JSE-listed Rebosis Property Fund owns 67.5% of New Frontier, which serves as the black-owned and managed fund’s main offshore arm. New Frontier listed on the JSE as a rand hedge for domestic investors."The UK now faces a period of uncertainty before exit, if indeed it actually occurs, while negotiations … begin. The board of New Frontier has decided to proceed with caution until the uncertainty in the UK economy has reduced and there is more clarity on the state of the property investment market," New Frontier said.The shopping centre owner reported a recurring profit of £8.541m for the nine months to May.Comprehensive income under internatio...
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