Accelerate warns payouts will be under pressure as disposals continue
Property fund says distribution per share could fall up to 15% in its year to end-March 2020 as it sells assets
Accelerate Property Fund, the co-owner of Fourways Mall, says its dividends will remain under pressure in 2020 as it grapples with rental reductions and other cost savings in a bid to hold onto tenants who are battling in an economy that contracted 0.6% in the third quarter.
Its interim dividend fell 41% in the period to end-September. The company’s total vacancy was 8.54% compared with 9% at the end of September 2018.