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%)
land_icon
Land (1.0%)
  • Industrial Assets
  • Retail Assets
  • Office Asset
  • Residential Asset
  • Land Assets
Asset Name  Location  Ownership Anchor Tenant(s) GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(as at
31 Dec 2021)
Plot 14398 Gaborone 30% Sefalana Cash & Carry Limited 5 450 0% 5% 3,40 years 3,25 years US$715 680
Plot 14453 Gaborone 30% Multi Tenanted 2 170 0% 6% 2,73 years 2,74 years US$304 931
Plot 14454 Gaborone 30% Multi Tenanted 2 170 0% 5% 2,26 years 2,15 years US$286 783
Plot 14455 Gaborone 30% Locally Tenanted 952 0% 2% 4,75 years 4,75 years US$224 928
Plot 14457 Gaborone 30% Multi Tenanted 1 800 0% 6% 2,48 years 2,57 years US$242 309
Plot 14458 Gaborone 30% Multi Tenanted 1 800 0% 5% 3,29 years 3,32 years US$214 448
Plot 14459 Gaborone 30% Multi Tenanted 1 800 0% 6% 3,58 years 3,60 years US$230 807
Plot 14460 Gaborone 30% Multi Tenanted 1 800 0% 6% 3,01 years 3,07 years US$226 973
Plot 22033 Gaborone 30% Metrofile Records and Information Systems 3 889 0% 0% 3,25 years 3,25 years US$722 837
Plot 22038 Gaborone 30% Lactalis Botswana (Pty) Ltd, SDM Holdings, The United States of America 7946,25 6% 5% 2,33 years 2,32 years US$894 600
Plot 28911 Gaborone 30% Multi Tenanted 19 858 0% 5% 2,64 years 2,57 years US$2 313 436
Plot 32084 Gaborone 30% Kromberg & Schubert Botswana 22 091 0% 6% 2,00 years 2,00 years US$2 477 275
Plot 54233 Gaborone 30% Global Holdings 40 313 0% 5% 2,21 years 2,10 years US$3 147 714
Plot 64260 Gaborone 30% Multi Tenanted 4 441 22% 5% 2,34 years 2,29 years US$713 380
Plot 6371 Lobatse/6369-6372 Gaborone 30% Multi Tenanted 4 810 0% 8% 3,41 years 3,48 years US$197 323
Plot 69365 Gaborone 30% Multi Tenanted 8 882 0% 6% 1,00 years ,99 years US$1 212 055
Plot 69368 Gaborone 30% Multi Tenanted 8 315 0% 5% ,80 years ,79 years US$1 174 993
Plot 69369 Gaborone 30% Multi Tenanted 4 000 0% 5% 3,77 years 3,72 years US$720 536
Plot 22047 Gaborone West Industrial Gaborone 30% Multi Tenanted 4 100 0% 5% 2,84 years 2,84 years US$990 450
Plot 54060 Phakalane Gaborone 30% Speedspace Botswana (PTY) LTD 21 622 7% 4% 1,55 years 3,72 years US$618 808
Asset Name  Location  Ownership Anchor Tenant(s) GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(as at
31 Dec 2021)
Plot 4738 Gaborone 30% Choppies 3 994 0% 5% 3,74 years 3,68 years US$1 249 628
Plot 29052 Watershed Piazza Gaborone 30% Shoprite, Choppies 11 324 0% 4% 3,43 years 3,06 years US$3 797 960
Asset Name  Location  Ownership Anchor Tenant(s) GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(as at
31 Dec 2021)
Plot 50380 Moedi Gaborone 30% The Government of the Republic of Botswana 5 325 0% 5% 3,92 years 3,92 years US$1 418 069
Asset Name  Location  Ownership Anchor Tenant(s) GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(as at
31 Dec 2021)
Plot 2989 Gaborone Red Square Gaborone 30% Multi Tenanted 6 303 2.52% 4% ,95 years ,92 years US$1 206 432
Asset Name  Location  Ownership Anchor Tenant(s) GLA (m²) EPRA Vacancy EPRA NIY WALE – GLA  WALE – Income  Valuation
(as at
31 Dec 2021)
Plot 276 Bosela Gaborone 30% 0% 0% ,00 years ,00 years US$193 900
  • 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 4 000 25.0% 6% 1.66 1.66 US$0.21 million
Plot 14398 Gaborone 30% Sefalana Cash & Carry Limited 4 5 450 0% 9% 4.27 4.12 US$0.74 million
Plot 14453 Gaborone 30% Multi Tenanted 2 2 170 0% 10% 1.54 1.50 US$0.32 million
Plot 14454 Gaborone 30% Multi Tenanted 2 2 170 0% 9% 3.26 3.16 US$0.31 million
Plot 14455 Gaborone 30% Locally Tenanted 1 2 170 56.13% 4% 4.16 4.16 US$0.29 million
Plot 14457 Gaborone 30% Multi Tenanted 2 1 800 0% 9% 3.48 3.57 US$0.26 million
Plot 14458 Gaborone 30% Multi Tenanted 2 1 800 0% 9% 0.52 0.61 US$0.23 million
Plot 14459 Gaborone 30% Multi Tenanted 2 1 800 0% 4% 2.50 2.42 US$0.24 million
Plot 14460 Gaborone 30% Multi Tenanted 2 1 800 0% 9% 4.01 4.05 US$0.25 million
Plot 22033 Gaborone 30% Metrofile Records and Information Systems 3 3891 0% 9% 4.25 4.22 US$0.81 million
Plot 22038 Gaborone 30% SDM Holdings, The United States of America 7 8 000 12.5% 9% 1.47 1.40 US$0.95 million
Plot 28911 Gaborone 30% Multi Tenanted 16 19 858 2.69% 10% 1.45 1.43 US$2.44 million
Plot 32084 Gaborone 30% Kromberg & Schubert Botswana 1 22 091 0% 10% 3 3 US$2.70 million
Plot 54233 Gaborone 30% Global Holdings 3 40 313 0% 9% 3.58 3.55 US$3.34 million
Plot 64260 Gaborone 30% Multi Tenanted 7 4 441 15.9% 8% 1.54 1.50 US$0.87 million
Plot 14398 Gaborone 30% Sefalana Cash & Carry Limited 4 5 450 0% 9% 4.27 4.12 US$0.74 million
Plot 6371 Lobatse Gaborone 30% Multi Tenanted 2 4 810 62.49% 5% 1.09 1.07 US$0.19 million
Plot 69365 Gaborone 30% Multi Tenanted 4 8 882 0% 9% 1.56 1.56 US$1.26 million
Plot 69368 Gaborone 30% Multi Tenanted 4 8 316 0.01% 8% 1.37 1.28 US$1.20 million
Plot 69369 Gaborone 30% Multi Tenanted 4 4 000 0% 7% 1.69 1.68 US$0.76 million
Plot 22047 Gaborone 130% Multi Tenanted 3 4 100 0% 8% 3.84 3.84 US$0.86 million
Plot 54060 Gaborone 230% Speedspace Botswana (PTY) LTD 1 3 996 0.03% 3% 0.00 US$0.80 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 4738 Gaborone 30% Choppies 4 3 994 0% 9% 3.87 3.14 US$1.3 million
Plot 29052 Watershed Piazza Gaborone 30% Shoprite, Choppies 39 11 324 0.2% 7% 3.96 3.50 US$4.05 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 5 325 0% 10% 0.00 US$1.43 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 2.52% 8% 0.84 0.76 US$1.33 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% 0 2 800 100% 0% 0 US$0.21 million

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