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CONSTRUCTION WORLD
SEPTEMBER
2016
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MARKETPLACE
Attacq recently unveiled its newly
refreshed brand to members of the
media and key stakeholders. “The
vibrantly refreshed brand boasts
a new colour palette dominated by red and
grey, denoting confidence in our future
sustainability and is akin to the investment
leadership position Attacq has carved for
itself as a successful listed capital growth
fund,” says Morné Wilken, chief executive
officer of Attacq. “The modern and vibrant
logo supported by an equally recognisable
icon element to identify and differentiate
Attacq both in the real estate segment and
the investment world,” explains Wilken.
“The new brand resonates with our
creative approach to business and is
supported by our business philosophy of
‘Develop, Invest and Grow’. The brand refresh
is the next salient step of our fully integrated
marketing communication and stakeholder
engagement strategy that was adopted early
in 2016,” says Wilken.
Wilken said that Attacq as a capital
growth fund, differentiates itself from its
real estate peers. Its relatively new, quality
property portfolio, including its stake in the
recently launched Mall of Africa as well as
its offshore assets which are now in excess
of 24% of gross assets, are bearing fruit for
investors. “Our vision is to create sustain-
able capital growth for shareholders and to
become the premier property fund in South
Africa. Hence to effectively communicate this
with the market we have created a powerful
new brand for Attacq that aligns with our
vision,” says Wilken.
Accelerated internalisation of
Waterfall development
Attacq has taken the strategic decision to
accelerate the internalisation of the Waterfall
development management function to
enable Attacq to take full control of the
strategic planning, marketing and roll-out
of the Waterfall developments. Attacq will
drive the development of Waterfall City and
its world-class infrastructure as the African
headquarter destination for years to come.
“Attacq and Atterbury have agreed to
amend the existing development manage-
ment agreement to terminate the exclusivity
of Atterbury’s appointment as development
manager to Waterfall effective 1 July 2016,”
explains Wilken. In anticipation of the expiry
of the exclusivity period, Attacq has been
assembling its own development team and
appointed Pete Mackenzie, who has over 25
years’ experience in the property develop-
ment and investment sector, as its head of
developments. As part of the internalisation
of the development function, Attacq has
appointed Morné Whitehead, who was previ-
ously with Atterbury.
“From a practical point of view, the
completion of certain developments in the
ground will remain the responsibility of
Atterbury so Atterbury will continue to earn
the remaining development fees in respect of
these developments,” explains Wilken. Wilken
concludes: “In addition to the benefits of
taking full control of Waterfall’s development
management, Attacq will also effectively earn
fees from its property developments”.
Exciting Sanlam and Equites
transactions
Attacq and Sanlam Properties recently
announced a significant strategic prop-
erty transaction for further light industrial
commercial and retail development in.
The joint venture has acquired 28 ha of
Waterfall land from Attacq and an additional
adjacent 100 ha from the Mia family, securing
a total of 128 ha of usable land on the eastern
side of the N1 freeway and south of the Allan-
dale interchange. This land is ideally located
in the visible Waterfall development node,
which is perfectly located between the Allan-
dale and Buccleuch interchanges. The area
benefits from easy and convenient access to
the road and rail infrastructure of the central
Gauteng economic development zone.
Sanlam holds 80% and Attacq holds
20% in the joint venture with Attacq having
the right to increase its shareholding to 50%.
Some 114 ha of the land will be utilised for
light industrial commercial developments
with the balance of 14 ha to be developed for
retail purposes. The development roll out will
be managed by Attacq.
Extensive demographic and feasibility
studies have been undertaken and fully
support the proposed retail development to
be done on the 14 ha of retail land in the near
future. In terms of the retail development,
Attacq has already elected to increase its
shareholding in the joint venture to 50%.
The 114 ha of light industrial commer-
cial land is ideally located for light indus-
trial activity and distribution centres. The
developments on this land will in future also
benefit from further infrastructure develop-
ment and the additional access links that
are foreseen for the area to the south of
Allandale Road.
Attacq has also concluded a transaction
with with Equites, in relation to eight indus-
trial buildings at Waterfall. The transaction
forges a strategic partnership between
Equites and Attacq for the purpose of jointly
pursuing opportunities in the industrial
property sector in and outside of South
Africa. The parties will be able to pursue
and unlock certain greenfield developments
around South Africa which is consistent
with the Attacq group’s value proposition of
developing properties as part of its strategy
of being a capital growth fund to earn devel-
opment profits.
A long term view is taken on property.
The overarching strategy of Attacq is rooted
in sustainable capital growth and robust
appreciation, with emphasis placed on a far
reaching outlook, similar to the asset class
we invest in. Its vision unfolds through the
development and ownership of a diversified
portfolio of properties with contractual
income streams.
Major
BUSINESS STRIDES
announced
ATTACQ is happy to
announce a major stride in
its business development
with the launch of a
refreshed brand, significant
new transactions that
expands the Attacq Waterfall
development footprint, and
an accelerated internalisation
of the Waterfall development
management function.
Morné Wilken, chief executive officer of Attacq.