Castleview Property Fund Limited (JSE:CVW)
Castleview Property Fund Limited (JSE:CVW) is a property holding and investment company that is invested in a well-located regional shopping centre in the Eastern Cape, with a strategy of investing in a diversified portfolio of retail properties in South Africa, providing exposure to consumers from a cross-section of income categories.
Castleview's current investment is the Pier 14 Shopping Centre in Port Elizabeth. It is a 3-level shopping centre, with 5 floors of offices. The building has a gross letting area of more than 30 000 m². It offers a number of attractive leasing options for both the business and retail sector. Pier 14 has over 75 stores with 300 000 – 400 000 shoppers visiting the centre every month.
Castleview intends to invest in retail properties which are anchored by high quality national tenants on long term, escalating leases, where opportunities to increase value to shareholders through sound asset management strategies are available. Castleview may also invest in listed property shares in the future.
Castleview listed its shares on the Alternative Exchange (“AltX”) of the JSE on 20 December 2017.