Christo Wiese's Tradehold in R260m UK buy

Cape Town - Christo Wiese’s Tradehold [JSE:TDH] on Tuesday said it acquired a high-growth serviced-office provider in the UK for £11.3m (about R260m).

The JSE-listed, UK-based investment holding company said in a statement it finalised the acquisition of serviced-office provider Ventia through its UK subsidiary Moorgarth Property Group.

The acquisition will elevate Moorgarth’s The Boutique Workplace Company, started earlier this year, to one of the leading serviced-office providers in central London by operating 25 business centres and more than 2 500 workstations in the British capital.

Tradehold joint CEO Friedrich Esterhuyse said Ventia is a highly regarded business in its field and features regularly on the annual London Sunday Times Virgin Fast Track 100 list.

In November, Ventia was elected Small Business of the Year in the 2015 Nectar Small Business Awards competition run annually in the UK.

Moorgarth, established in 2003, owns a significant commercial real estate portfolio across the UK.

Tradehold's share price was unchanged at R29.90 on Tuesday afternoon.