New Frontier Properties was incorporated as a private company in Mauritius on 5 June 2014 and subsequently converted into a public company. It has a dual primary listing on the Stock Exchange of Mauritius Ltd (SEM) and the Alternative Exchange of the Johannesburg Stock Exchange (AltX). In October 2015, it transferred its tax domicile to the UK and joined the UK REIT regime. New Frontier left the UK REIT regime but continues to be a UK tax resident company.
New Frontier acquired its first two retail properties in April 2015 when it bought the Cleveland Centre in Middlesbrough and Coopers Square in Burton upon Trent. In September 2015, it acquired Houndshill Shopping Centre in Blackpool. In October 2017, New Frontier acquired a modern warehouse unit at Stadium Business Park in Dublin, Ireland.
New Frontier’s investment strategy previously targeted high quality, income-generating shopping centres and has now broadened to include logistics and warehousing properties occupied by the growing online retail sector, in the UK and mainland Europe. Preference will be given to logistics and warehouse assets in the UK, Germany, Austria, Slovakia, Czech Republic, Poland, Ireland and Benelux.
New Frontier aims to grow its portfolio to £1bn within the next three to five years.
In March 2018, New Frontier received the PwC Corporate Reporting Award for listed Global Business Companies in recognition of the presentation and content of the Company’s 2017 Integrated Annual Report.
According to the panel of external, independent experts: “New Frontier Properties Limited is a class above in terms of content and feel of the report. They displayed better clarity in their reporting.”
Mr Harris is currently based in the United Kingdom, where he is studying to become a gas safety engineer. Previously, he was a Senior Supervisor – Rock Mechanic Engineer Strata Control at Sibanye Stillwater in South Africa. Through this role, and other positions held at the mine, Mr Harris has experience in health and safety and project planning.
Mr Vallance has been involved in property since 1982 and qualified as an Professional Valuer in 1986 with Richard Ellis (Dunlop Heywood). He subsequently moved to the banking sector, managing the property finance teams for Investec Limited (Pretoria) and FirstRand Limited. During this period he gained extensive experience in property finance and property credit/risk. He joined the Georgiou Group for a period of 3 years to set up the Johannesburg office and was instrumental in identifying Fourways Node as the future Sandton City. He resigned to pursue his own property interests and during this period he has successfully traded in property for his own account and increased his property dealmaking knowledge. He rejoined the Georgiou Group on 1 January 2013. Rob was instrumental in the establishment of Accelerate Property Fund and was appointed as Chief Investment Officer in December 2013. He was seconded to establish The Capital Growth Fund in June 2015, which was partially sold to Orion Real Estate Ltd. In October 2018 he was appointed Chief Investment Officer at Orion Real Estate Ltd. In July 2019 he purchased a stake in New Frontier Properties Ltd and has concentrated his effort preserving this investment. He acts as expert witness on many property legal matters and acts as consultant to many listed and unlisted property companies in South Africa.
Mr Gmeiner attained his BCom Accounting (Hons) and qualified as one of the top ten students in the Chartered Accountants examination in 1983. During his accountancy career he became a partner in Cohen and Gmeiner Accountants, which he led to become one of the largest auditing firms in South Africa. He founded a property company in 1991, which has grown into the current Orion Real Estate Limited, listed on the JSE Limited. During 1999 he took over the hotel operations of the Hotel Devonshire and since then the Orion Hotels division has built up a portfolio of 8 hotels.
Ali Akbar Ahsan has over 15 years of investment banking, capital markets and private equity experience. He is co-founder and COO at Storfund and Non Executive Director at Destiny Corporation Energy South Africa. Akbar has extensive experience across the UK, Europe, Middle East and Africa and has raised over US$30bn for clients during his career. His real estate experience includes structuring and financing £1.5bn in equity and debt for London Bridge Quarter and advising on restructuring over £800mn of real estate portfolios across the UK and Europe.
New Frontier is committed to the highest standards of integrity and ethical conduct in dealing with its stakeholders, and requires the same approach from all who act on its behalf.
Underpinning all aspects of New Frontiers business dealings are its core values:
We recognise that we have obligations towards our shareholders, the advisers and contractors who are essential to our business, and not least the local communities in which we operate. The well-being of our property assets is wholly reliant on their reputation with in the communities they serve. We will therefore be responsive to community needs and address any issues that arise through early and positive dialogue with local representatives.
All our property development activities will aim to minimise the impact on the community and the environment generally, and we will seek to apply all relevant energy saving and noise reduction standards. We expect our advisers and contractors to prioritise the health and safety of their workers and the public over all other considerations, as well as carry out all appropriate safety and environmental monitoring.
New Frontier has a Gender Diversity Policy in place.
New Frontier Properties is developing a real estate portfolio focused on retail and logistics assets in the UK and Europe. The portfolio will be underpinned by long-term leases, low vacancies and strong covenants, and the properties will be situated in dominant locations.
New Frontier acquired its first two retail properties in April 2015, notably the Cleveland Centre in Middlesbrough and Coopers Square, Burton upon Trent.
Portfolio by value
Portfolio by GLA
2 May 2018
9 March 2018
28 November 2017
16 January 2017
12 December 2016
11 November 2016
25 October 2016
14 October 2016
Please get in touch if you would like further information on New Frontier or would like to discuss potential opportunities.