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Category 2 Disposal Announcement - 37 Yaldwyn Road and 112 Yaldwyn Road Industrial Buildings
SA CORPORATE REAL ESTATE LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2015/015578/06)
Approved as a REIT by the JSE
Share Code: SAC
ISIN Code: ZAE000203238
("SA Corporate" or the "Company")
CATEGORY 2 DISPOSAL ANNOUNCEMENT - 37 YALDWYN ROAD AND 112 YALDWYN ROAD
INDUSTRIAL BUILDINGS
1. Introduction
1.1. SA Corporate shareholders are advised that the Company has, through its wholly-owned
subsidiary SA Retail Properties (Pty) Ltd (Registration number: 1999/025764/07) (the
"Seller"), entered into a sale agreement ("Agreement") with SouthRock Properties (Pty)
Ltd (Registration number: 2012/083092/07) (the "Purchaser"), to dispose of two properties
that are located at 37 Yaldwyn Road and 112 Yaldwyn Road, Jet Park, and the related
commercial concerns (the "Yaldwyn Properties") for a total cash consideration of
R514 000 000 ("Disposal Consideration"), subject to the fulfilment or waiver of the
conditions precedent set out in paragraph 3 below (the "Disposal").
1.2. The effective date of the Disposal is expected to be in the first quarter of 2026, being the
date of registration of the transfer of the Yaldwyn Properties in the name of the Purchaser
("Transfer Date"), but no later than 2 August 2026.
2. Rationale and use of proceeds
2.1. The Disposal is aligned to SA Corporate's strategy of being invested in a low-vacancy
quality industrial portfolio and mitigates the re-letting risk associated with the Yaldwyn
Properties which are spread across four buildings and leased to a single tenant which has
advised it will be vacating the Yaldwyn Properties at the expiry of its current lease in
September 2027.
2.2. The Disposal Consideration will be applied to recycle capital into assets with greater
growth potential.
3. Terms and conditions
3.1. The ultimate beneficial shareholder of the Purchaser is the JAM Trust.
3.2. The Disposal Consideration is payable by the Purchaser on the Transfer Date.
3.3 The Disposal is subject to the fulfilment or waiver of the condition precedent that, to the
extent necessary, by no later than 120 days from the signature date of the Agreement, the
Disposal has been unconditionally approved by the South African competition authorities
or conditionally approved on terms and conditions acceptable to the parties.
3.4 The Disposal is subject to warranties and indemnities consistent with a transaction of this
nature.
4. Description of the Yaldwyn Properties
4.1. The Yaldwyn Properties collectively occupy a land area of approximately 156 736m²:
4.1.1. In respect of 37 Yaldwyn Road:
4.1.1.1. erf 212 Hughes Extension 28 Township, Registration Division IR,
Province of Gauteng, measuring 1,8851 hectares, held by Deed of
Transfer T14821/2016; and
4.1.1.2. the remaining extent of erf 230 Hughes Extension 1 Township,
Registration Division IR, Province of Gauteng, measuring 5,9759
hectares, held by Deed of Transfer T14822/2016
4.1.2 In respect of 112 Yaldwyn Road:
4.1.2.1 erf 227 Hughes Extension 4 Township, Registration Division IR,
Province of Gauteng, measuring 1,2848 hectares, held by Deed of
Transfer T14823/2016; and
4.1.2.2 portion 112 (a portion of portion 5) of the farm Driefontein number
85, Registration Division IR, Province of Gauteng, measuring
4,2827 hectares, held by Deed of Transfer T30846/2016
4.1.3 all the Seller's right, title and interest in and to the leases and contracts; and
4.1.4 the buildings erected on the properties together with all improvements, movable
and fixed assets and all fixtures and fittings, excluding assets which are the
property of the tenant.
4.2 Details of the Yaldwyn Properties:
Location: 37 Yaldwyn Road and 112 Yaldwyn Road, Jet Park,
Gauteng
Rentable area: 70 037m2
Weighted average net R53.30 per m2
rental:
Sector: Industrial
5. Property specific information
5.1. A valuation of the Company's total property portfolio was performed as at 30 June 2025
by Spectrum Valuations and Asset Solutions (Pty) Limited ("Valuer"), who are independent
and registered as professional valuers in terms of the Property Valuers Professional Act
No 47 of 2000.
5.2. The value attributed to the Yaldwyn Properties by the Valuer as at 30 June 2025 was
R515 800 000.
6. Financial information
The net property income for the six months ended 30 June 2025 attributable to the Yaldwyn Properties
was R22 699 047. This information has been extracted from the unaudited interim results of the
Company for the six months ended 30 June 2025, which were prepared in accordance with International
Financial Reporting Standards and the South African Companies Act.
7. Categorisation
The Disposal constitutes a category 2 transaction in terms of the Listings Requirements of the JSE
Limited, involves no related parties and does not require shareholder approval.
Sandton
6 November 2025
Corporate Advisor and Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Date: 06-11-2025 09:54:00
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