Specialising in industrial property, this real estate investment trust is set to capitalise on tailored warehouse offerings.
Equites Property Fund is the only industrial-focused real estate investment trust (REIT) listed on the JSE. The company provides high-quality modern logistics facilities and distribution warehousing to national and international clients. It has assets in prime locations in Cape Town and Gauteng, and, more recently, in the Midlands region of the UK.
Since listing in 2014, Equites has provided a total shareholder return (including dividends) of 74%, outperforming the South African Listed Property Index, which provided 34% over the same period. Its clients – both retailers and logistics companies – include the likes of Puma SA and TFG in South Africa, and Amazon and Tesco in the UK. With a property portfolio worth just under R6bn, its growth and performance has been impressive. We believe the company is well-positioned to continue to benefit from its focused strategy along with the significant industry tailwinds presented by the changing dynamics driving demand for distribution logistics in the retail sector.
The rise of the ‘big box’ warehouse
In recent years, South African food and clothing retailers have made significant investments to improve their supply chain management by implementing centralised distribution systems. Where previously suppliers delivered directly to individual stores, they now deliver to a retailer’s central warehouse facility from where the retailer delivers optimised loads to its network of stores.
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