ACCELERATE PROPERTY FUND LIMITED - Voluntary Announcement Regarding Two Strategic Acquisitions

Voluntary Announcement Regarding Two Strategic Acquisitions

ACCELERATE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration Number 2005/015057/06)
Share code: APF ISIN: ZAE000185815
(“Accelerate”)


VOLUNTARY ANNOUNCEMENT REGARDING TWO STRATEGIC ACQUISITIONS


1   INTRODUCTION

    Accelerate is pleased to announce that it has completed two strategic acquisitions, further details of
    which are set out below (“the Acquisitions”).

    The Acquisitions are consistent with Accelerate’s strategy of building a quality property portfolio in
    strategic nodes that offers long-term distribution and capital growth underpinned by strong underlying
    contractual cash flows.

2   INFORMATION RELATING TO THE ACQUISITIONS

    Accelerate has acquired two erven situated in the Cape Town Foreshore. The erven consist of a
    building and an 11,230m2 parking lot adjacent to the building (“Murray & Roberts Acquisition”).

    The building has a 5,470m2 gross lettable area (“GLA”) and is currently 100% occupied by Murray &
    Roberts Holdings, Trudon Proprietary Ltd and Unitrans Motors Proprietary Ltd.

    The properties comprising the Murray & Roberts Acquisition are located adjacent to other properties
    Accelerate currently owns in the Cape Town Foreshore – being Oceana House, Thomas Pattullo, 101
    Hertzog Boulevard, and the Mustek building – and therefore enhances Accelerate’s position in this
    strategic node. There is significant development potential for this precinct which Accelerate intends
    unlocking.

    In addition, Accelerate has acquired an office building situated in the Sandton business district in
    Johannesburg anchored by Citibank (Johannesburg Branch) (“Citibank Acquisition”).

    The Citibank Acquisition has a 12,433m2 GLA, with a 8.41 year weighted average lease expiry,
    underpinned by a 10 year lease with Citibank.

    The Citibank Acquisition represents a further step in Accelerate’s strategy to acquire properties situated
    around key transport nodes. The property is situated within 300 metres from the Sandton Gautrain
    station, a transport node that has become a catalyst for development given the ease in which its
    commuters are able to travel to and from their place of work.

    Neither the Murray & Roberts acquisition nor the Citibank Acquisition are categorisable in terms of the
    Listings Requirements of the JSE Limited and the announcement of these Acquisitions are made for
    information purposes.

    Further information relating to the Acquisitions is available on the Accelerate website.

3   OTHER OPPORTUNITIES

    Accelerate is exploring a number of other investment and development opportunities offshore. As and
    when appropriate, further announcements will be made in this regard


    Johannesburg
    16 March 2017


    Financial Advisor and Transaction Sponsor
    Investec Bank Limited

    Sponsor
    The Standard Bank of South Africa Limited

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