{"id":18061,"date":"2022-12-05T14:53:48","date_gmt":"2022-12-05T14:53:48","guid":{"rendered":"https:\/\/www.africa-press.net\/botswana\/all-news\/acquisition-of-rail-park-mall-boosts-llr-profits"},"modified":"2022-12-05T14:53:48","modified_gmt":"2022-12-05T14:53:48","slug":"acquisition-of-rail-park-mall-boosts-llr-profits","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/botswana\/all-news\/acquisition-of-rail-park-mall-boosts-llr-profits","title":{"rendered":"Acquisition of Rail Park Mall Boosts LLR Profits"},"content":{"rendered":"

Africa-Press – Botswana. <\/strong><\/span>The acquisition of Rail Park Mall by Letlole La Rona (LLR) has significantly boosted the company\u2019s overall performance, this publication has established.<\/b><\/p>\n

This acquisition has seen LLR profits from associates increasing from P3 million in full year (FY) 2021 to P24 million in the year under review.<\/p>\n

LLR acquired a 32.8 percent stake in the Rail Park Mall adjacent to Gaborone\u2019s bustling train station and bus terminus in 2020.<\/p>\n

Kenyan equity<\/b><\/p>\n

Not only did LLR acquire a stake in Rail Park Mall in the year under review but the company also acquired an initial 30 percent equity stake in Orbit Africa Logistics, a 29 243m2 logistics and warehouse facility situated in a prime location in Nairobi, Kenya for US$7.2 million.<\/p>\n

\u201cThe co-investment will grow and diversify LLR\u2019s portfolio and balance sheet, with 6 percent of our portfolio now outside of Botswana,\u201d says the CEO of LLR, Kamogelo Mowaneng, in the company\u2019s integrated annual report for 2022.<\/p>\n

\u201cLLR has the option to increase its investment to 50 percent of Orbit Africa Logistics for a further US$7.6 million.\u201d<\/p>\n

Vacancy rates low<\/b><\/p>\n

Mowaneng notes that Botswana\u2019s industrial sector has remained resilient through the current challenging economic conditions. \u201cBotswana government\u2019s Economic Recovery and Transformation Plan (ERTP) and supporting policies are suited for growth in the industrial sector,\u201d she says in the report.<\/p>\n

According to the report, demand for warehouse space has continued to rise, which has left rental values relatively unscathed and helped keep vacancy rates low.<\/p>\n

The CEO says Botswana\u2019s office sector is continuing to be impacted by low demand and oversupply exacerbated by speculative development over the past few years.<\/p>\n

\u201cValues of prime residential properties have also been relatively flat for a few years now, which has resulted in many institutional investors exiting more significant residential complex investments,\u201d states Mowaneng in the report.<\/p>\n

\u201cGo to Africa\u201d strategy<\/b><\/p>\n

\u201cLLR has single-digit exposure both in terms of revenue and GLA to the residential segment. However, the steady growth in the country\u2019s middle-class population means that sales and rental demand in this segment will likely continue for the foreseeable future.\u201d<\/p>\n

Looking into the future, Mowaneng says as LLR \u201cGo to Africa\u201d strategy matures and the company expands its portfolio to capitalise on the immense opportunities beyond the borders of Botswana, LLR will also explore the potential to diversify its income streams.<\/p>\n

\u201cThis will augment the current inflows with US dollar-based income to bolster profitability and serve as a good risk mitigation strategy,\u201d she notes.<\/p>\n

LLR is a variable rate loan stock company that engages in property investment and derives revenue primarily from property rentals. It operates through the industrial, retail, residential and commercial office space property segments.<\/p>\n

For More News And Analysis About Botswana<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Botswana. The acquisition of Rail Park Mall by Letlole La Rona (LLR) has significantly boosted the company\u2019s overall performance, this publication has established. This acquisition has seen LLR profits from associates increasing from P3 million in full year (FY) 2021 to P24 million in the year under review. LLR acquired a 32.8 percent […]<\/p>\n","protected":false},"author":84,"featured_media":18060,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,7],"tags":[233,237,234],"class_list":["post-18061","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-head-lines","tag-africa-press","tag-africa-press-botswana","tag-botswana"],"yoast_head":"\nAcquisition of Rail Park Mall Boosts LLR Profits - Botswana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/botswana\/all-news\/acquisition-of-rail-park-mall-boosts-llr-profits\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Acquisition of Rail Park Mall Boosts LLR Profits\" \/>\n<meta property=\"og:description\" content=\"Africa-Press – Botswana. The acquisition of Rail Park Mall by Letlole La Rona (LLR) has significantly boosted the company\u2019s overall performance, this publication has established. This acquisition has seen LLR profits from associates increasing from P3 million in full year (FY) 2021 to P24 million in the year under review. 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