INDUSTRIAL PROPERTY
Equites adds land for distribution centre to British portfolio
The company will acquire a DHL distribution centre in Reading through its Isle of Man-based wholly owned subsidiary, Equites International
Equites Property Fund, the high-end industrial property owner, has clinched another deal in the UK, acquiring land and the development rights for a distribution centre there. Equites already owns four distribution centres in the UK worth about £104m. Through its Isle of Man-based wholly owned subsidiary, Equites International, the company will acquire a DHL distribution centre in Reading, England. Equites would acquire 3.2ha of vacant land from Exton Estates Three for £9.7m (R175m). It also concluded a development and funding agreement with Exton Estates, in terms of which Equites International would fund the development of a 9,325m² "last-mile" distribution warehouse to be let to DHL International for an amount up to £15.9m (R286.38m). The transaction was consistent with Equites’s growth and investment strategy of diversification into the UK in order to mitigate the risks of its South African focus and access the advanced know-how and technology in respect of logistics facilities i...
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