History

1971-2017

1971

First property purchased by Albino Carleo the founder of
Putco Bus Services.

 

1988

Putco Properties Limited listed on the Johannesburg Stock Exchange with 21 properties acquired from Putco Bus Services, with a focus on the industrial property sector. The initial portfolio asset base was R101 million with a market capitalisation of R18,5 million and net income of R1.1 Million.

The company had no gearing.

 

1997

Property portfolio exceeds R150 Million, with a 100% industrial properties holding.

2002

Record dividend distribution paid to shareholders of 100 cents per share.

2003/2004

Group changes strategy to diversify its portfolio into the retail and commercial sectors.

Rationalisation of property portfolio with disposal of non-core properties.

2006

Group name change from Putco Properties to
Putprop Limited in order to distinguish itself from Putco Bus Services and establish a property
focused brand.

 

2007

First development undertaken with a joint venture into two retail centres in the Centurion area

2008

Diversification of portfolio with first retail properties acquired

Putprop is recognised by the JSE Limited for 21 years on the main Board of the Johannesburg Stock Exchange. The group pays out Dividend distributions for the twenty first consecutive year.

2012

Ranked 74th in Financial Mails Top 200 Listed companies

Acqured a 25% holding in Summit Place A 60 000M2 mixed use retail and commercial development in Centurion, Tshwane

2014

Phase 1 of Summit place fully tenanted

Property portfolio exceeds R325 million

Record net profit of R71 million with major contributions from our investment in Associates

2015

Phase 1 of Summit place fully tenanted

Property portfolio exceeds R325 million

Record net profit of R71 million with major contributions from our investment in Associates

2016

Secunda Value Mart

The acquisition of the 49% holding not already owned by the Group in Secunda Value Mart, situated in Secunda was also finalised in this period. This is a retail center development of 6 272m2 GLA with Builders Warehouse and Burger King as anchor tenants. Leases of 10 years have been concluded. Rental income has come on stream with effect from December 2015.

Corridor Hill

Our interest in associate investment opportunities was increased during the current year, with an additional 20% investment being concluded in Corridor Hill, a development in Witbank. The Group had already acquired an 80% holding in a 50% undivided share in 2015, partnering with the Bidvest Group. The investment has a Volkswagen dealership as a tenant, with a 10 year head lease. The dealership opened in 2016.

© 2014 Putprop Limited