Delta Property Fund to dispose of 88 Field Street

Delta Property Fund (JSE:DLT) announced it plans to dispose of its property located at 88 Field Street in Durban for ZAR76 million. The company entered into a sale agreement with Jordisys Proprietary Limited, with the transaction classified as a category 1 disposal requiring shareholder approval. As per the agreement, a non-refundable deposit of ZAR3.8 million has been paid, with the balance of ZAR72.2 million secured by guarantees. The proceeds from the sale will be used to reduce Delta's debt balance. The company anticipates the transfer of the property to occur on or around September 30, 2025. The company also announced the successful transfer of Anchor House and Thuto House in Bloemfontein, solidifying previous sales announcements made in 2024.