September 9 2025 17:45
SOUTH AFRICA
The spat between Atterbury Property and RMH Holdings is not over. Recently Atterbury removed RMH’s CEO Brian Roberts from its board. Roberts had been a director at Atterbury for eight years.
Atterbury operates across the country with its base in Pretoria. It was founded by Louis van der Watt and others and owns the Castle Gate and Village precincts in Pretoria. RMH said recently that Roberts would leave the Atterbury Property board. It is believed that Roberts and Atterbury do not see eye to eye in terms of strategy and how to deliver value from real estate assets. RMH indirectly holds just mover 30% of Atterbury Property Holdings a holding company which itself owns Atterbury Property.
RMH’s investment in Atterbury Property Holdings is valued at around R750m and makes up more than 90% of RMH’s portfolio. RMH is the property arm of investment bank RMB Holdings, which unbundled its interests in FirstRand in 2020.
RMH’s share price is down 80% on a three-year basis. The group should consider paying dividends to shareholders instead of rewarding Roberts and his cohorts with millions every year.
As we said in 2022, GT Ferreira, RMH’s charismatic founder should return to RMH to assist RMH deal with its current problems.
alistair@propertyflash.co.za
