VKE
VKE
Vukile to acquire Oakhurst office building
Vukile Property Fund Limited
(Incorporated in the Republic of South Africa)
(Registration number 2002/027194/06)
Share code: VKE ISIN: ZAE000056370
VUKILE TO ACQUIRE OAKHURST OFFICE BUILDING
Johannesburg, 20 February 2006 - Property loan stock company Vukile is to
acquire the Oakhurst office building in Parktown, Johannesburg, from Sanlam Life
Insurance for R34.4 million.
Oakhurst is a modern five-storey building with a lettable area of 9 085mSquared
situated at the St Andrews off-ramp from the M1 South. Vukile CEO, Gerhard van
Zyl said, given its prime location, the fact that it was almost fully let to
blue-chip tenants and its longer-term upside potential in the strengthening
Parktown property market, Oakhurst met all the company"s investment criteria.
The acquisition yield is 10.6%.
Van Zyl also said that Vukile"s existing property portfolio had posted a strong
letting performance in 2005, with renewals and new deals totalling close to R270
million over a combined area of approximately 154 000mSquared.
Buildings in which deals with a contract value of more than R5 million were done
during the year include the Durban Embassy (R16.1 million), Midrand Sanitary
City (R14.7 million); Bedfordview GIS (R9.7 million), Bloemfontein Plaza (R9
million), 227 Andries Street (R8.1 million), Durban Embassy (R6 million),
Hellman International (R5.6 million) and Pinetown Shopping Centre (R5.2
million).
For further information call
Gerhard van Zyl, CEO Vukile Property Fund Limited
on (011) 288 1002
Issued by du Plessis Associates on behalf of Vukile Property Fund Limited.
dPA contact Helen McKane Tel : +27 11 728 4701, Fax: +27 11 728 2547, Mobile:
082 330 2034 or e-mail: vukile@dpapr.com
www.vukileprops.co.za
Date: 20/02/2006 10:01:02 AM Produced by the JSE SENS Department
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