Page 8 - Waterfall Issue 10 2021

Waterfall News

ATTACQ

ANNUAL RESULTS

Delivering on strategy and well-positioned for growth

A ttacq Limited (Attacq), the recycling transactions, and its While group distributable income

shares in MAS Real Estate, totalling
was reduced by 35.9% and no
JSE-listed REIT developing
premium precincts such as
in reducing interest-bearing debt
Waterfall City, concluded R2.8 billion to date, will be utilised dividend has been declared for the
2021 financial year, the portfolio
its fiscal year-end on 30 June 2021, and improving its capital structure. performed well against market
with a solid financial and operational expectations. Like-for-like rental
performance. The company’s Attacq CEO, Jackie van Niekerk, says, “It’s income decreased by 0.5% (2020:
sound results were supported by been another year of flux for the real decreased 4.8%); property expenses,
a well-considered capital structure estate sector in South Africa and across excluding cost of sales of sectional-
improvement programme and a the globe. The COvID-19 pandemic title units, decreased by 1.5% (2020:
strategy of informed disposals. continues to impact businesses and increased 2.6%) to R757.0 million
people alike, bringing with it a need (2020: R768.7 million); and net
Attacq’s high quality South African for flexibility, forward thinking and operating income on a like-for-
real estate portfolio consists of the imperative to understand client like basis increased by 1.4% (2020:
retail-experience hubs (retail), and customer challenges more increased 4.2%). Furthermore, the
collaboration hubs (office and mixed- deeply than ever before. Attacq has completed portfolio maintained
use), logistics hubs (light industrial), remained focused on delivering on its high collection rates and occupancy
and hotels. Attacq’s recent sale of the financial and operational strategies, levels despite lockdown restrictions,
Deloitte head office, and partial sales and we are extremely gratified to see and new high-quality clients were
of the Massbuild distribution centre these flow through into company successfully secured for Waterfall City.
and the Amrod building at close to performance. It is our team’s ability
their valuations, demonstrate the to roll with the punches and adapt Attacq’s strong South African
quality of its real estate portfolio. at a fast pace that has helped us performance ensures it is well placed
The proceeds of these capital keep moving forward so steadily.” to weather an environment still

6 Waterfall Issue 10 2021