Solid results for Western Cape’s Spear REIT as it ups dividends for shareholders

Spear REIT has released its HY2026 pre-close update, reporting steady portfolio performance, strong acquisitions worth R1.08 billion, and ongoing solar rollout across its Western Cape assets. With occupancy stable at 95% and distributable income tracking above guidance, Spear remains positioned for resilient growth.

Spear REIT has acquired Maynard Mall in Wynberg, Cape Town for R455 million, expanding its Western Cape retail footprint with a high-traffic, convenience-led centre anchored by national retailers and key services.

Spear REIT has acquired Consani Industrial Park in Elsie’s River for R437.3 million, strengthening its Western Cape industrial footprint with a high-yield, multi-let asset backed by long-term leases.