Botswana

LLR is a variable loan stock company listed on the Botswana Stock Exchange on 15 June 2011 and has a market capitalisation of BWP504 million (approx. US$46 million).  It is a key player in the real estate market in Botswana and owns 20 properties, the majority of which are located in the greater Gaborone area. Grit acquired a 30% share in November 2019.

LLR enables Grit to enter the Botswana property market with sufficient scale and corporate infrastructure to develop a leading property portfolio in the country and the wider region.

The LLR acquisition represents further exposure to investment grade Africa and an increased weighting in the industrial sector for Grit.

The distribution facility comprises pharmaceutical pallet locations, as well as consumer and cold-chain pallet locations and was originally custom-developed for Imperial Health Sciences.

Property Details

Letlole La Rona

Loan Stock Company
Sector Icon - Light Industrial
Industrial (61.5%)
Sector Icon - Retail
Retail (25.0%)
Sector Icon - Office
Office (6.3%)
Sector Icon - Corporate Accommodation
Residential (6.2%)
Sector Icon - Hospitality
Hospitality (1.0%)
  • Industrial Assets
  • Retail Assets
  • Office Asset
  • Residential Asset
  • Hospitality Asset
Asset Name  Location  Ownership Anchor Tenant(s) No. of Tenants  GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(31 Dec 2019)
Plot 9787 Gaborone 30% Multi Tenanted 3 3 994 25.0% 10.7% 0.77 1.12 US$0.67 million
Plot 14398 Gaborone 30% Sefalana Cash & Carry Limited 4 5 450 0% 11.0% 0.86 0.87 US$2.2 million
Plot 14453 Gaborone 30% Multi Tenanted 2 2 170 0% 11.4% 4.21 4.12 US$1.1 million
Plot 14454 Gaborone 30% Multi Tenanted 2 2 170 0% 8.5% 0.08 0.08 US$0.99 million
Plot 14455 Gaborone 30% Multi Tenanted 2 2 170 0% 9.3% 0.32 0.32 US$0.95 million
Plot 14457 Gaborone 30% Multi Tenanted 2 1 800 0% 12.6% 1.42 1.49 US$0.76 million
Plot 14458 Gaborone 30% Multi Tenanted 2 1 800 0% 10.7% 0.50 0.51 US$0.77 million
Plot 14459 Gaborone 30% Multi Tenanted 2 1 800 0% 11.0% 2.01 1.82 US$0.77 million
Plot 14460 Gaborone 30% Multi Tenanted 2 1 800 0% 10.6% 1.00 1.18 US$0.78 million
Plot 22033 Gaborone 30% Metrofile Records and Information 2 3890.14 0% 7.4% 1.92 2.08 US$2.6 million
Plot 22038 Gaborone 30% SDM Holdings, The United States of America 6 8 000 12.5% 9.0% 1.88 1.92 US$3.0 million
Plot 28911 Gaborone 30% Multi Tenanted 1 19 858 2.7% 11.3% 4.00 4.00 US$7.2 million
Plot 32084 Gaborone 30% Kromberg & Schubert Botswana 1 22 091 0% 12.9% 0.88 0.97 US$8.1 million
Plot 54233 Gaborone 30% Kamoso Distribution 3 40 313 0% 10.6% 2.06 2.41 US$10.5million
Plot 64260 Gaborone 30% Multi Tenanted 8 4 441 15.9% 8.2% 4.78 4.49 US$2.9million
Asset Name  Location  Ownership Anchor Tenant(s) No. of Tenants  GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(31 Dec 2019)
Plot 4738 Gaborone 30% Choppies 4 3 994 0% 10.8 4.87 4.15 US$4.1 million
Plot 29052 Watershed Piazza Mahalapye 30% Shoprite, Choppies 41 11 277.26 3.1% 8.6% 4.78 4.49 US$13.5 million
Asset Name  Location  Ownership Anchor Tenant(s) No. of Tenants  GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(31 Dec 2019)
Plot 50380 Moedi House Gaborone 30% The Government of the Republic of Botswana 1 5 324.72 0% 12.4% 0.83 0.83 US$4.4 million
Asset Name  Location  Ownership Anchor Tenant(s) No. of Tenants  GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(31 Dec 2019)
Plot 2989 Red Square Gaborone 30% Multi Tenanted 41 6 303.06 7.9% 7.9% 0.82 0.88 US$4.3 million
Asset Name  Location  Ownership Anchor Tenant(s) No. of Tenants  GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(31 Dec 2019)
Plot 276 Bosela Hotel Gaborone 30% Cresta Marakanelo 52 2 800 0% 41.6% 0.42 0.42 US$0.71 million

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