Zeder Trading Proprietary Limited entered into an agreement to acquire Standard Bank Greyville from Delta Property Fund Limited (JSE : DLT) for ZAR 44 million.

Zeder Trading Proprietary Limited entered into an agreement to acquire Standard Bank Greyville from Delta Property Fund Limited (JSE : DLT) for ZAR 44 million on November 15, 2022. The consideration will be paid in cash. Standard Bank Greyville has operating loss of ZAR 0.3 million.

The net proceeds will be utilised by the Delta to reduce debt and the Loan to Value (LTV) by 0.2% from 58.2% to 58.0% and to reduce vacancy levels by 0.4% from 33.9% (31 August 2022) to 33.5%. The transaction is expected to complete on or above February 28, 2023.