Report

Equites Property Fund | Equites pre-close luncheon notes

We hosted the management team from Equites (EQU) for a pre-close luncheon on 29 and 30 August. Management provided us with an update on the acquisition and development pipeline as well as business conditions within SA and the UK. This note provides a summary of the important points made during the presentation and Q&A sessions on both days.
Underlying
Equites Property Fund

Equites Property Fund Limited is a real estate investment trust. The Company is engaged in the investment in and development of commercial properties in the industrial sector. The Company operates through three segments: Industrial, Office and Non-property (corporate). The Industrial and Office segments derive their revenue primarily from rental income from leases. All treasury functions, corporate costs and other expenses that are not specifically attributable to individual properties, are included in the Non-property segment. The Company controls approximately 40 hectares of industrial land in Gauteng and Cape Town on which it has a contracted pipeline, including distribution centers for Puma South Africa and Rohlig-Grindrod. It owns buildings totaling approximately 286,260 square meters gross lettable area. Its properties include Execujet Hangar, Caudwell Marine, Belvedere, Kuehne & Nagel, Equity Park, Formscaff, Printers Way and Esco Warehouse.

Provider
Avior Capital Markets
Avior Capital Markets

Avior is a globally recognised capital markets research and trading firm, with the broadest research coverage within the region, with 100+ SA and 20+ SSA companies under coverage. Avior services clients from offices in London, Cape Town and Johannesburg.

Our research quality is consistently recognised in local and global surveys, with 18 analysts currently rated in their respective sectors (FM 2017). Value add through in-depth, innovative, high quality and consistent research with comprehensive underlying fundamental modelling supported by regular analyst and roadshow interactions.

Avior has proven that by working closely with our clients we can mutually develop dominant positions in certain sectors, going from strength to strength. Avior has a dedicated ESG team, having been ranked #1 in Corporate Governance research since 2008.

Analysts
Daniel King

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