Delta Property Fund in negotiations to sell up to 29 properties
The company has been selling noncore assets to reduce its debt
28 November 2023 - 13:43
Delta Property Fund, which has a mostly government tenant base, is at an advanced stage of negotiations to sell 29 of its properties, as part of its strategy to improve the company by selling selected properties, reducing debt, improving costs and lowering the vacancies.
The company, valued at about R171m on the JSE, said on Tuesday in its results for the six months to end-August that it is looking to offload 43 noncore assets, valued at R2.2bn, including the 29 that are in advanced stages of talks, and five properties, valued at R124.5m, expected to be sold in the next six months...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.