Page 17 - Waterfall City_Issue 10_2022

ATTACQ’S

CONTINUED STRATEGIC

FOCUS PAYS OFF

Award‐winning REIT resumes dividend payments and reports

strong performance in terms of occupancy and collections

Waterfall City CBD
A ttacq Limited (Attacq), Attacq CEO Jackie van Niekerk says: “Attacq continues to secure a quality

the JSE-listed Real Estate
rental income stream as demonstrated
“During the past year, we emerged
Investment Trust (REIT)
from COVID-19 with an improved
by the high proportion of international
developing certain aspects
Our focus is now on new opportunities,
of Waterfall City, recently announced company culture and capital structure. commercial clients with several
global blue-chip corporates,
a pleasing set of financial results for mainly through the implementation of including Amazon Web Services,
the full year ending 30 June 2022. our environmental plan, in support of Cisco, Pfizer and Ericsson moving to
The Group performed well against sustainable growth within our portfolio Waterfall City during the year. Space
all key metrics, most notably the and delivery of the company’s purpose utilisation at Waterfall City and the
resumption of dividends of 50.0 and vision.” Lynnwood Bridge precinct, our largest
cents per share, representing a collaboration hubs, continues to
payout ratio of 80%, as well as a “A key ingredient of success has increase as businesses return to the
34.2% increase in distributable been formulating and executing workplace,” she continues.
income per share to 62.8 cents. our ‘hub’ strategy, which focuses on
creating segmented retail-experience, ACTIVE CAPITAL
The Group’s performance was collaboration and logistics hubs that ALLOCATION AND BALANCE
particularly satisfying in the are smart, safe and sustainable.” SHEET MANAGEMENT
context of South Africa’s record Commenting on the balance sheet and
unemployment levels and low- Further highlights include concluding an capital allocation, Attacq CFO Raj Nana
growth environment. It emphasised amended lease agreement on the Cell C adds, “During FY22, Attacq successfully
the underlying quality of the collaboration hub space. This is subject to de-geared its balance sheet, completed
portfolio, characterised by continued the completion of Cell C’s recapitalisation several developments and grew its
growth in the burgeoning mixed- of 24 955m² whereby the warehouse distributable income. In addition, lower
use Waterfall City precinct, which component of the Cell C campus interest costs, higher rental collections,
continues to attract quality local and (14 014m²) was re-let at market-related and the receipt of a dividend from the
global blue-chip corporate clients. rentals for a period of three years. investment in MAS have contributed

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