South Africa’s listed property sector is said to be showing signs of making a comeback. Despite having faced major challenges in 2020, 4AX (4 Africa Exchange) listed Heartwood Properties Limited recorded a net asset growth per share of 25% for the year ending February 2021. Since first listing on the stock exchange in March 2018, it is grown its net assets by a total of 93%.
With commercial property under the most pressure in this sector these figures are a welcoming relief for Heartwood Properties. “We’ve had to endure a lot this past year. We offered rental relief of R2.5m in the form of rental reductions but are now back on track with tenants all paying rent as per their lease agreements. Vacancies are at 3% of our lettable area. The fact that we know all our tenants well and have a hands-on approach to the management of our portfolio has assisted us immensely in navigating the past year.” Said John Whall, CEO of Heartwood Properties.