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.
The Attacq brand refresh confirms sound vision and marks bold business strides
Attacq today 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. Seeing that our new financial year kicked off this week, it was opportune to use this as a milestone to refresh our brand and introduce an array of new engagement tools including our brand new website,” 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. Wilken continues that Attacq’s Waterfall development, which he believes is the best located land in Gauteng for development, continues to garner excitement for tenants and the public alike.
“Our vision is to create sustainable 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. He explains that this significant brand milestone also coincides with some equally significant strategic strides taken by the business as it grows from strength to strength.
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 management agreement to terminate the exclusivity of Atterbury’s appointment as development manager to Waterfall effective 01 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 development and investment sector, as its Head of Developments.
As part of the internalisation of the development function, Attacq has appointed Morné Whitehead, who was previously with Atterbury. Whitehead has been involved with Waterfall for the past five years and has been instrumental in Waterfall’s infrastructure planning and implementation as well as managing a number of Waterfall’s commercial property developments. “Existing developments under management of Whitehead will be taken over by Attacq with no further fees being payable to Atterbury on these developments,” concludes Wilken.
“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”.
Attacq’s transactions with Sanlam and Equites herald exciting development expansion
Attacq and Sanlam Properties yesterday announced a significant strategic property transaction for further light industrial commercial and retail development in.
The joint venture has acquired 28ha of Waterfall land from Attacq and an additional adjacent 100ha from the Mia family, securing a total of 128ha of usable land on the eastern side of the N1 freeway and south of the Allandale interchange. This land is ideally located in the visible Waterfall development node, which is perfectly located between the Allandale 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%. 114ha of the land will be utilised for light industrial commercial developments with the balance of 14ha 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 14ha 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 114ha of light industrial commercial land is ideally located for light industrial activity and distribution centres. The developments on this land will in future also benefit from further infrastructure development and the additional access links that are foreseen for the area to the south of Allandale Road.
Morné Wilken, Chief Executive Officer of Attacq, expressed his delight with the joint venture and says that he looks forward to having Sanlam Properties as a strategic partner. “Sanlam has been a key investor in Attacq for many years. We value the relationship and welcome its investment now as a key development partner,” states Wilken.
Attacq has also concluded a transaction with with Equites, in relation to eight industrial 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 development profits.
Attacq’s South African development pipeline focuses on Waterfall, which includes Waterfall City, centrally located in Gauteng, as the new corporate headquarter node of South Africa. Gauteng’s new conveniently located world-class city is already attracting global names like PwC with their new 26-story office tower in the thriving precinct. Other corporates that have already relocated to the precinct include; Premier Foods, Novartis, Group Five, Diageo, Cell C, Altech, Digistics, Massbuild, Cipla, MB Technologies, Dräger S.A, Westcon Group, Medtronic, Cummins, Honda Motor SA and others. “Waterfall City still has a lot of promise and exciting prospects with its new status as Gauteng’s most attractive new corporate headquarters’ destination given its central location in Gauteng - the financial hub of South Africa,” states Wilken.
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. Our vision unfolds through the development and ownership of a diversified portfolio of properties with contractual income streams.