Local Authority News

The City of Johannesburg Valuation Appeal Board will resume hearings in February 2015. To date we have dealt with approximately 20% of our Appeals. This is a competent board by Raymond Mashazi and assisted by Maryke Serfontein and others. We have been alerted to the fact that City of Johannesburg notices for Supplementary Valuation Roll 1 ‘revived outcomes’ will be sent out in February 2015. The eThekwini (Durban) Supplementary Valuation Roll 9 is currently open for Inspection/ Objection. Listed property delivered returns of 26,6% outperforming all other asset classes for 2014 – Property 24. Capital raised in this sector was approximately R40 billion for 2014.

According to Curwin Rittels of Catalyst Fund Managers the top performing stocks were:

  • Fortress B (100%)
  • Rockcastle (82%)
  • Resilient (60%)

According to ‘Property 21’, ‘Old Mutual’ and ‘Pareto’ have entered an asset swop whereby ‘Old Mutual’ will acquire ‘Pateros’ 50% stake in Cavendish Square and ‘Pareto’ will acquire ‘Old Mutual’ 50% stake in Menlyn Park Shopping Centre with the net consideration payable in cash.