Putprop - Kramerville Letting Enterprise acquired
Putprop agreed to acquire the Kramerville Letting Enterprise from Tarloy Properties (Pty) Ltd. for R124.5 million, which amount includes VAT at 0%. The transaction includes the Kramerville Property, lease rights, fixed assets, and related assets, but excludes liabilities and employee claims. The property is a multi-tenant retail centre of 6 253m², located in Johannesburg’s design district, with an average rent of R180.06 per m². The acquisition is subject to conditions including due diligence, bank loan approval of R85 million, and shareholder approval. The effective date is upon transfer, with the purchase secured by a deposit and bank guarantee. The deal is classified as a Category 1 transaction requiring shareholder approval.
|
