Rebosis concludes property deal
Rebosis has concluded an agreement for the disposal of three Johannesburg properties to the Southern Palace Group of Companies.
|||Johannesburg - Listed property fund Rebosis has concluded an agreement for the disposal of three Johannesburg properties to the Southern Palace Group of Companies for a total of about R847.5 million.
The properties Rebosis had agreed to sell were 28 Harrison Street, 124 Main Street and 64 Eloff Street.
Rebosis said it had entered into a sale agreement for the disposal of another non-core asset to another vendor for R150m, bringing the total value of non-core assets disposed of to date to about R1 billion.
The fund did not provide details about the fourth property.
Rebosis said the disposals would enable it to reduce total debt and therefore the loan-to-value ratio.
The disposals are subject to various conditions.
Rebosis shares rose 1.2 percent on the JSE yesterday to close at R10.99.
BUSINESS REPORT