| Thu 23 Aug 2018, 17:40 | | OASIS CRESCENT PROPERTY FUND - Voluntary Announcement: Leasing Of 32 Montreal Drive Cape Town |
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OAS 201808230057A
Voluntary Announcement: Leasing Of 32 Montreal Drive, Cape Town
OASIS CRESCENT PROPERTY FUND
A property fund created under the Oasis
Crescent Trust Scheme registered in terms of
the Collective Investment Schemes Control
Act (Act 45 of 2002), having REIT status with
the JSE Limited
Share code: OAS
ISIN: ZAE000074332
(“the Fund”)
VOLUNTARY ANNOUNCEMENT: LEASING OF 32 MONTREAL DRIVE, CAPE TOWN
1. Unitholders are referred to the Fund’s Final Preliminary Audited Results and Distribution
Declaration announcement dated 3 May 2018, advising that the Fund was in the process
of targeting top quality global logistics companies to tenant a newly developed, modern
logistics facility, located in the Cape Town Airport City Industrial Park, which was acquired
during the period ended March 2018.
2. Unitholders are advised that the Fund has concluded a lease agreement (“Lease
Agreement”) for the above premises with one of the leading global logistics companies.
This is an exciting opportunity which initiates a mutually beneficial long-term relationship
with a major multi-national player in the logistics sector.
3. The conclusion of this Lease Agreement for the premises located in the Cape Town
Airport City Industrial Park, together with a lease agreement in the process of being
finalised for a tenant at The Ridge, should result in the vacancy of the Fund reducing to
3.2% based on rental income. The Fund continues to focus on its strategy of improving
the tenant mix, extending the lease expiry profile and reducing vacancy.
4. The introduction of this multi-national to the portfolio further enhances the tenant profile of
the Fund, which now has 72% of tenants classified as “A” grade. Tenants are classified
as large or major (“A” grade) or medium to large (“B” grade) based on their financial
soundness, profile and global or national footprint.
Cape Town
23 August 2018
Designated Adviser
PSG Capital
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