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Delta Property Fund has announced the proposed sale of Hatfield Forum East for ZAR 35 million in an all-cash transaction as part of its ongoing asset disposal strategy. The company also confirmed the successful transfer of the In2Fruit and 88 Field Street properties, marking further progress in executing its property sales programme. The disposal forms part of Delta's efforts to streamline its portfolio, strengthen liquidity and reduce debt. The company has been pursuing selective asset sales over the past few years to improve its financial position and focus on long-term portfolio optimisation.
Delta Property Fund has announced the proposed disposal of Hatfield Forum East for ZAR 35 million in a cash transaction, continuing its strategy of selling selected assets from its property portfolio.
The company informed the Johannesburg Stock Exchange (JSE) that the proposed transaction forms part of its ongoing asset disposal programme. Alongside the announcement, Delta also provided an update confirming the successful transfer of the In2Fruit and 88 Field Street properties, indicating further progress in completing previously announced transactions.
The disposal of Hatfield Forum East is expected to generate ZAR 35 million in cash proceeds. While the company did not disclose additional financial details of the transaction in its initial announcement, the sale is part of Delta's broader efforts to improve its balance sheet through strategic property disposals.
Delta Property Fund has been implementing a portfolio optimisation strategy over the past few years, disposing of non-core and selected assets to strengthen liquidity, reduce debt and improve the overall quality of its property portfolio. The company has continued to execute this plan amid changing conditions in South Africa's commercial real estate market, where several listed property firms have focused on balance sheet management and capital recycling.
The successful transfer of the In2Fruit and 88 Field Street properties further demonstrates progress in the company's disposal programme, with completed transactions contributing to the execution of its asset realisation strategy.
Source Reuters
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