Shopping mall in Cape Town sold for R442 million

• Spear REIT acquires Watergate Centre for R442 million
• The acquisition is part of Spear's recent set of acquisitions valued at R1.4 billion, which includes 1 Sportica Crescent in Tygervalley, and forms part of the Western Cape-focused real estate investment trust's growth drive.
• The move is expected to be earnings-accretive, with contributions not yet included in the current DIPS guidance, and follows a period of strong rental growth and revenue increase for the group.