Heriot REIT Limited (JSE:HET)

Richard Herring
Market Cap (AUD): 2.95B
Sector: Financials
Last Trade (AUD): 11.5 +0 (+0%)
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1. About

Heriot REIT Limited (JSE:HET) is a property holding and investment company that owns a diversified portfolio of retail, industrial, commercial and specialised properties in South Africa.

Heriot was founded by Steven Herring in 1998 for the purpose of growing a property portfolio that generated sustainable long-term cash flows from blue chip tenants. Heriot’s introduction into the property market was through the industrial sector with properties underpinned by triple net, long term leases that facilitated quick growth of its asset base. Today, Heriot owns 19 industrial properties.

In 2003, Heriot diversified its portfolio into the retail sector with the development of a 1 500m² retail centre. Heriot now owns twelve retail centres with a GLA of 150 360m² in CBD’s, townships and rural areas that focus on the mass market, bringing shopping to the people. The centres are anchored by a high percentage of national tenants with long term leases and high trading densities that ensures the sustainability of Heriot’s cash flows.

The property portfolio further includes seven office properties, including Heriot’s head office located in the prestigious mixed-use precinct, Melrose Arch.

Heriot listed on the AltX of the JSE on Monday 24 July 2017 and will continue to grow its portfolio through the development and acquisition of yield-enhancing assets that offer consistent long-term, rental income growth.

2. Business model

3. Strategy

4. Markets

5. Competition

6. History

7. Team

8. Financials

9. Risk