OASIS CRESCENT PROPERTY FUND - Trading Update Relating To The Property Portfolio Vacancy Levels In Oasis Crescent Property Fund

Trading Update Relating To The Property Portfolio Vacancy Levels In Oasis Crescent Property Fund

Oasis Crescent Property Fund
A property fund created under the Oasis Crescent Property Trust
Scheme registered in terms of the Collective Investment Schemes
Control Act (Act 45 of 2002)having REIT status with the JSE
Share code: OAS
ISIN: ZAE000074332
(“Oasis” or “the Fund”)

TRADING UPDATE RELATING TO THE PROPERTY PORTFOLIO VACANCY LEVELS
IN OASIS CRESCENT PROPERTY FUND

The Directors of Oasis Crescent Property Fund Managers Limited,
the manager of the Fund (“the Manager”), hereby advise unitholders
that the strategy to refurbish and reposition the industrial
properties has been successfully implemented.


The Fund completed a major refurbishment at the Moorsom Avenue
property, in preparation for the commencement of a long term lease
with a national manufacturer and retailer. This period of
refurbishment will have a short term impact on earnings for this
earnings period ended 31 March 2014. The new lease commenced on 1
November 2013 and will enhance unitholder value.

At Nourse Avenue and Sacks Circle we allowed the leases to expire
and then took the opportunity to refurbish the vacant properties.
The letting of Nourse Avenue was completed near the end of the
half year period ending 30 September 2013 and has been previously
reported on.    The letting of Sacks Circle has been concluded
during the second half year period ending 31 March 2014.    Sacks
Circle has been let on a medium term lease to a large national
tenant.

All of these properties are in an excellent physical condition
after the refurbishment and we have extended the useful lives of
the properties through these major refurbishments. In every case,
the replacement tenant is of a higher quality than the exiting
tenant.

This strategy is in-line with the Fund’s policy of ensuring that
all assets are maintained in an excellent condition, meeting the
requirements   of   world class    tenants. We continually seek
to enhance the value of the assets in our portfolio.

Unitholders are referred to the annual financial statements for
the year ended 31 March 2013, where it was reported that the
property portfolio vacancy level of the Fund was 15.9%.     The
Fund’s property portfolio vacancy level is currently 3.2%.
By order of the board of the Manager

28 February 2014
Cape Town
Designated Advisor
PSG Capital (Pty) Ltd

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