Investec Property Fund: virus greenlights shift to logistics assets
The coronavirus is hitting retail assets and is accelerating a trend towards online sales and demand for warehouse space
26 March 2020 - 13:03
Investec Property Fund (IPF), the diversified JSE-listed company with an annual net property income of R1.5bn, said on Thursday that the national lockdown could cost the company at least R40m in unpaid rent.
The company addressed investors in a pre-close update the day before SA’s economy goes into a 21-day lockdown in an effort to curb the spread of Covid-19. During the lockdown, all shopping centres in SA will be closed except for stores selling essential goods. No alcohol or cigarettes will be sold...
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