Gemgrow acquires multiple property in Louis Trichardt

gemgrow

Gemgrow Properties Limited said it has entered into various indivisible and inter-conditional purchase agreements.

The company has signed an agreement with Erf 266 Louis Trichardt Proprietary Limited for the acquisition of a letting enterprise conducted by the seller in respect of and including the property known as the Checkers Centre in Louis Trichardt, Limpopo.

Gemgrow also entered into an agreement with Solly Noor Prop Proprietary Limited for the acquisition of a letting enterprise conducted by the seller in respect of and including the properties known as the Shoprite Centre and Noor.

For the Solly Noor letting enterprises, Gemgrow said it will pay ZAR130 million to close the transaction.

As a rationale for the transaction, Gemgrow said they are in line with its objective of repositioning itself as a specialist high yielding, high growth fund with a portfolio of retail, industrial and office assets.

Leave a Reply

Your email address will not be published. Required fields are marked *