SA Corporate Real Estate is set to dispose of two industrial properties in Jet Park, Gauteng, for a total cash consideration of R514m.
The sale of 37 and 112 Yaldwyn Road, through its subsidiary SA Retail Properties, is expected to take effect early in 2026, with the transfer to be completed by August 2 at the latest, the group said in a Sens announcement.
The disposal aligns with its strategy of focusing on low-vacancy, high-quality industrial assets and reduces the reletting risk linked to the Yaldwyn properties, which are leased to a single tenant that is due to vacate in September 2027, it said.
It plans to reinvest the proceeds from the sale in assets with stronger growth potential.
The properties occupy 156,736 m² of land, with 70,037m² of rentable space. The weighted average net rental stands at R53.30/m². An independent valuation by Spectrum Valuations placed the properties’ combined value at R515.8m.
Net property income for the Yaldwyn properties for the six months to 30 June was R22.7m, according to the group’s unaudited interim results.
The transaction is classified as a category 2 deal under JSE listing requirements, involves no related parties and does not require shareholder approval, the group said.
SA Corporate struck a R544.6m deal last month to offload its Bluff Towers Shopping Centre in Durban, continuing its retreat from retail assets in KwaZulu-Natal.
In its results for the six months to end-June, the group indicated its main strategy was to increase its exposure to suburban estates, while its inner-city residential portfolio will be limited to the five precincts where it is currently dominant.
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