Equites Property Fund Limited (JSE:EQU)

Andrea Taverna-Turisan
Market Cap (AUD): 14.3B
Sector: Financials
Last Trade (AUD): 18.37 +0 (+0%)
Tab Bar

1. About

Equites (JSE:EQU) is a listed Real Estate Investment Trust (“REIT”) with a focus on owning and developing modern, well-located logistics properties let to A-grade tenants on long-dated leases.

Equites has established itself as a leading owner and developer of high-quality logistics assets in SA and the UK and is the only specialist logistics REIT listed on the JSE. This gives shareholders pure exposure to an asset class that is expected to outperform over time.

The management team has a proven ability to develop modern 'Big Box' distribution assets internally, which leads to significant shareholder value creation. These assets are almost exclusively tenanted by blue chip tenants on long leases, which include Simba (Pepsico), Kuehne & Nagel, Puma, Amazon, Nestlé, DSV, Tesco, East Balt, The Foschini Group, Execujet, Digistics, Imperial, Avery Denison, Triton Express, Premier Foods and Westcon.

99% of the Group's portfolio consists of industrial assets, of which the majority are modern/prime logistics.

Asset focus

Equites has a clear focus on modern logistics assets, which meet the following criteria:

  • Design: modern design, raised platforms, dock-levelers and other design elements enabling an efficient distribution operation
  • Height: typically minimum of 13m to underside of eaves
  • Size and coverage: sufficient size to allow economies of scale and generous yard areas
  • Location: in key logistics nodes, close to transport links and major centres
  • Blue-chip tenant: top-end tenant with long dated, fully repairing and maintaining lease

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk