Rabie Property Administration portfolio set to soar to R7bn
Rabie Property Administration’s portfolio under administration will shortly exceed R7billion – a growth of more than 40% since December 2014. Director Leigh Metcalf says that since December last year the portfolio has grown by R700million and will shortly be further boosted by the addition of five new office and retail buildings that have recently been […]
Rabie office sold to investment trust
Rabie Property Group’s 965 square metre office suite in the Colosseum building in Century Way, Century City has been sold to an unlisted property investment trust for R20,2million. The two level, A grade office suite of Rabie, the developer of Century City, has been acquired by the Century Blue Trust which is currently focused on […]
New Foodlovers Market boosts Pinehurst Centre
The second phase of the Pinehurst Convenience Centre in Durbanville, comprising a 1200 square metre Foodlovers Market, has now been completed. The shopping centre, phase one of which opened in December last year, has been developed at a cost of R100million as part of the new northern areas residential development of Garden Cities, the non-profit […]
Major refurbishment of The River Club gets underway
Planning is underway to transform the 20ha River Club property in Observatory into a major commercialised recreational hub. Indigo Properties, which redeveloped the hugely successful Biscuit Mill and Woodstock Exchange in the neighbouring suburb and the innovative and popular Daddy Hotels, recently acquired the company that holds the long lease over The River Club. Rabie […]
RPA to manage new Ingenuity properties
Rabie Property Administrators (RPA) is to retain the management of nine prime Cape Town properties Ingenuity Property Group is acquiring in a R866m deal from the privately held Century City Property Investment Trust (CCPIT). JSE- listed property investment and development company, Ingenuity, announced last week that all the conditions for the acquisition had been fulfilled […]
Fundamental Software lets Greenford office block
Fundamental Software, a financial services information technology company, has signed a three year lease for Block C in the low rise Greenford office development in Kenilworth. The stand alone office block offers 555 square metres over two levels and is one of 19 office blocks in the 10 000 square metre first phase of Greenford which […]
Kenilworth lettings picking up
Three leases for a total of just under 700 square metres have been signed in the Aintree Park office park in Kenilworth n the past few months. Nicola Villarini of Rabie Property Administrators, which has managed the 5900 square metre development since 1999, said interest had recently picked up in Aintree Park and they expected […]
New urban renewal project for Woodstock
Three neighbouring industrial buildings in Albert Road Woodstock are being redeveloped into a trendy, upmarket mixed-use complex to be known as The Woodstock Exchange. The three buildings were acquired late last year at a cost of R20,5million by Dormell Properties which was also behind the redevelopment of the hugely popular Old Biscuit Mill which is […]
Rabie Property Administrators appointed to manage Rosmead Centre
Rabie Property Administrators (RPA) has acquired the management contract for the Rosmead Shopping Centre in Kenilworth bringing their portfolio under management to more than R3,8billion and a total GLA of just under 300 000 square metres. The convenience centre in Rosmead Avenue comprises around 3800 square metres of retail space and 2000 square metres of […]
Banks scrutinising Body Corporates finances
The proper financial management of sectional title body corporates is likely to come under increasing scrutiny by mortgage lenders making it difficult for purchasers to raise finance to buy into badly managed complexes. Kim Pistor, conveyancing manager of Rabie Property Group, says some banks are already doing so with purchasers finding it difficult to raise […]
