VKE
VKE
VKE - Vukile Property Fund - New Limpopo Shopping Centre On Track For
October Completion
VUKILE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number. 2002/027194/06)
JSE code: VKE
ISIN: ZAE000056370
NEW LIMPOPO SHOPPING CENTRE ON TRACK FOR OCTOBER COMPLETION
Johannesburg, 12 July 2007 - Development of the new Moritawa Crossing
shopping centre being built in the Jane Furse district of Limpopo is progressing
well and the centre should open for business towards the end of October this
year as scheduled, says the property loan stock company Vukile.
Vukile will, on completion, own an 86.5% stake worth R61.6 million in the
centre. The centre, which will have a gross lettable area of 11 280 m2, will
serve a rural community of some 185 000 people who currently have to do their
shopping at Groblersdal, 40 km away.
Vukile chief executive Gerhard van Zyl said the site was conveniently located at
the junction of three main arterials, close to a number of villages. The new
Hlogotlou agricultural development backed by ABSA is just to the south of the
junction and it is also in the vicinity of Roossenekal, where a number of new
platinum mines as well as the De Hoop dam are to be built.
The centre is already fully let with SPAR and Jetmart as anchor tenants. Some
85% of the total area has been let to national tenants.
Vukile expects Moratiwa Crossing to produce a net initial yield of 9.5% in the
first year.
Johannesburg
12 July 2007
Sponsor: Bridge Capital Advisors (Pty) Limited
For further information call Gerhard van Zyl, CEO Vukile Property Fund Limited
on +27 11 288 1002
Issued by du Plessis Associates on behalf of Vukile Property Fund Limited.
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547, Mobile:
082 330 2034 or e-mail: vukile@dpapr.com
www.vukileprops.co.za
Date: 12/07/2007 10:00:03 Produced by the JSE SENS Department.
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