TOWER PROPERTY FUND LIMITED - Acquisition of 15 Wellington Road, Parktown

Acquisition of 15 Wellington Road, Parktown

TOWER PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2012/066457/06)
JSE share code: TWR ISIN: ZAE000179040
(Approved as a REIT by the JSE)
(“Tower”)


ACQUISITION OF 15 WELLINGTON ROAD, PARKTOWN


Shareholders are advised that Tower has concluded an agreement for the acquisition of the property rental
enterprise situated at 15 Wellington Road, Parktown, Johannesburg, Gauteng from The Alchemy Property
Investments Trust for an aggregate purchase consideration of R80 500 000 (the “acquisition”). The property
has both office and retail space with a gross lettable area of 4 316m2 and a weighted average rental per
square meter of R153.74 and an acquisition yield of 10.1%. The property is located in a strong node and is
classified as A grade. The asset fits with Tower’s strategy of acquiring office, retail and industrial properties
in good locations throughout South Africa.

The purchase consideration will be settled through the issue of Tower shares and cash on a 50/50 basis,
payable on the date of registration of transfer of the property into Tower’s name. The agreement includes
undertakings, warranties and indemnities which are normal for an acquisition of this nature.

The acquisition is not categorisable in terms of the JSE Listings Requirements and is not subject to approval
by Tower shareholders.

31 March 2015


Sponsor

Java Capital

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