George Coetzer

Heriot Reit

Heriot was founded by Steven Herring in 1998 for the purpose of growing a property portfolio that generated sustainable long-term cash flows from blue chip tenants. Heriot's introduction into the property market was through the industrial sector with properties underpinned by triple net, long term leases that facilitated quick growth of its asset base. Today, Heriot owns 19 industrial properties valued at R1.680 billion. In 2003, Heriot diversified its portfolio into the retail sector with the development of a 1 500m² retail centre. Heriot now owns twelve retail centres with a GLA of 150 360m² in CBD's, townships and rural areas that focus on the mass market, bringing shopping to the people. The centres, valued at R2.304 billion, are anchored by a high percentage of national tenants with long term leases and high trading densities that ensures the sustainability of Heriot's cash flows. The property portfolio further includes seven office properties, including Heriot's head office located in the prestigious mixed-use precinct, Melrose Arch.