Delta Property Fund to dispose of 101 De Korte

Delta Property Fund (JSE:DLT) announced it has entered into a sale agreement to dispose of its property located at 101 De Korte Street, Braamfontein, Johannesburg, to Vivid Yellow Investments Proprietary Limited. The sale consideration is ZAR25 million, excluding VAT, and payable in cash, including a ZAR2.5 million non-refundable deposit already received. The transaction is expected to be effective around October 31, 2025, subject to customary conditions precedent. Delta intends to use the net proceeds to reduce its debt balance. As part of the announcement, Delta also confirmed the successful transfer of its Unisa House property to Guder Properties Proprietary Limited, with the proceeds used to settle outstanding debt. The 101 De Korte property had a net operating loss of ZAR2.75 million and a 100% vacancy rate, with a valuation of ZAR27.09 million as of February 28, 2025.