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Two of its retail properties were impacted by extensive looting and related damage.
50% co-owned by Growthpoint, total gross leasable area (GLA) of 45,318m2.
"All common areas and tenant’s premises were looted with extensive damage to shop fronts and air conditioning, with vertical reticulation still to be assessed. Fortunately, at this point, there was not any structural damage to the building and cleaning has commenced by our staff, cleaners and the local community," Growthpoint said.
Growthpoint has 100% ownership, total GLA of 40,362m2.
"All common areas and tenants' premises were looted. Looters attempted to burn down the delivery area and road facing tenants on multiple occasions, but the fires were quickly extinguished. They did, however, cause some damage to the air conditioning system and electrical reticulation, which has rendered a portion of the centre without electricity. Sprinklers were activated and there is also resultant water damage," noted Growthpoint.
The company is in the process of quantifying the damage on both sites.
Five Growthpoint industrial properties impacted include:
Growthpoint noted that all the properties are insured for business interruption with Sasria.