The Bridge, Port Elizabeth (27.5%)
Together with the Greenacres Shopping Centre, The Bridge forms an integral part of Port Elizabeth’s primary regional retail node, where the combined GLA exceeds 80,000sqm, and it is Acucap’s stated intention to increase its share in The Bridge, which is considered a core asset.
| ADDRESS | Langenhoven Dr, Port Elizabeth |
| DESCRIPTION | Undivided 27.5632% share of Erf 2860 Newton Park and Erf 2878 Mount Road |
| PROPERTY TYPE | Retail |
| INDEPENDENT VALUATION | R113,009,000 on 31 March 2010 |
| CARRYING VALUE | R113,009,000 |
| MAIN TENANTS | Ster Kinekor, Game, Shoprite |
| GROSS LETTABLE AREA | 12,095m² |
| CURRENT VACANCY | 0.70% |
| LEASE EXPIRY |
Year ending March 2008 - 4.8% Year ending March 2009 - 10.5% Year ending March 2010 - 26.9% Year ending March 2011 - 16.3% Year ending March 2012+ - 34% |
| RENTAL AVERAGE | R76.94 |
| ESCALATION AVERAGE | 0.00% |
