Octodec to shed R500m worth of office space to protect dividend
Vacancies have climbed above 18% as office tenants struggle, says MD Jeffrey Wapnick
29 October 2019 - 09:47
Property fund Octodec Investments will sell offices worth R500m as it tries to protect the income it pays to its shareholders, MD Jeffrey Wapnick says.
He said the group’s offices business, which accounts for about 15.8% of the total portfolio, has been through “tough times” and vacancies have climbed to about 18.3%. Tenants are struggling to afford rental increases, said Wapnick...
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