Castleview Property Fund is a property holding and investment company, which is today invested in a regional shopping centre in the Eastern Cape and has the aim to invest in a portfolio of retail properties in South Africa.
The group’s current portfolio includes Pier 14, a lifestyle centre in Port Elizabeth which contains 75 stores.
Castleview shares were listed for sale on the Retail REITs sector of the Johannesburg Stock Exchange’s (JSE) AltX board in December 2017. The listing was made in order to offer an initial introduction to the group.The group has a JSE market cap of R165 million, but does not yet have a trading history, with Castleview share price fixed at R5 and not available to the public as of 12 March 2018.
CASTLEVIEW PROPERTY FUND Shares Growth Driver
Castleview aims to drive performance by capitalising on the retail property sector, which has been one of top performers in the South African market for the past few years. The group has said that its growth strategy will focus on net asset value on total return on investment for those who purchase the share. It aims to achieve this by building a portfolio anchored by high-quality national tenants occupying properties on long-term leases, with a forecast of generating escalating turnover for the company.
Castleview intends to grow its asset base by approaching existing retail centre owners who wish to convert their existing physical property holdings into tradable shares in a JSE-listed REIT, thereby increasing the size and tradability of Castleview shares and also providing greater portfolio diversification.
Castleview does not intend to engage in new property developments initially but will seek to add value to its existing property portfolio through refurbishments and extensions where possible.
Castleview shares were not yet available to purchase by the public as of 12 March 2018, and the company has not yet released any financial data, with the first integrated report only due to be released in June 2018.
CASTLEVIEW PROPERTY FUND Group Investor Tip
There is currently not enough information available for investors to make any decisions regarding the purchase of Castleview shares.The company has however released forecast information for the period between February 2018 and February 2019, which anticipates that headline earnings will be 0.48 cents per share.
CASTLEVIEW PROPERTY FUND Major Shareholders
How to buy CASTLEVIEW PROPERTY FUND Group Shares
CASTLEVIEW PROPERTY FUND : How to buy CASTLEVIEW PROPERTY FUND Group Shares Online
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