ACCELERATE PROPERTY FUND LIMITED - Disposal by Accelerate of 73 Hertzog Boulevard

Disposal by Accelerate of 73 Hertzog Boulevard

ACCELERATE PROPERTY FUND LIMITED
(Incorporated in the Republic of South Africa)
Registration Number: 2005/015057/06
Share Code: APF ISIN: ZAE000185815
Bond code: APFE
LEI: 378900D514788C447E45
(Approved as a REIT by the JSE)
("the Company" or "Accelerate")


DISPOSAL BY ACCELERATE OF 73 HERTZOG BOULEVARD


1.    INTRODUCTION

      Shareholders and noteholders are advised that Accelerate has entered into a sale of letting
      enterprise agreement (the "Agreement") with Amrichprop 2 Properties (Pty) Ltd, the beneficial
      owners of which include, inter alia, Andre Mouton and Braam Viljoen (the "Purchaser") to
      dispose of the property known as 73 Hertzog Boulevard, situated in The Foreshore, Cape Town
      ("73 Hertzog") for an aggregate amount of R68 000 000 (exclusive of VAT) (the "Transaction").

      The Transaction forms part of Accelerate's ongoing strategic repositioning and restructuring
      programme. Accelerate intends to apply the proceeds of the disposal to the reduction of debt.

2.    TRANSACTION TERMS

      The effective date of the Transaction will be the date of registration of 73 Hertzog into the name
      of the Purchasers. The purchase consideration will be paid through a cash consideration of R 68
      00 000 against registration of transfer of the Property.

      The Agreement remains subject to the Purchaser obtaining funding approval to finance the
      acquisition of 73 Hertzog.

      There is 3% sales commission payable on the Transaction by the Seller.

      The Agreement contains undertakings, warranties and indemnities which are normal for a
      transaction of this nature.

3.    PROPERTY SPECIFIC INFORMATION

      The details of the Property at 31 March 2025 is as follows:

       Location:                                 Foreshore, Cape Town
       Sector:                                   Commercial
       Weighted Average Gross Rental (R/m2):     161
       Gross lettable area (GLA) (m2):           5 470
       Valuation (R):                            77 914 433

      The Directors' valuation of the Property as at 31 March 2025 (which the Company is satisfied
      with) was based on cash flows and forward net income achieved by the Properties at valuation
      date. The Directors of Accelerate are not registered as professional advisors or as professional
      associate advisors in terms of the Property Valuers Profession Act, No 47 of 2000.

4.    FINANCIAL INFORMATION

      The net expected cash proceeds from the Transaction is approximately R65 960 000. The net
      operating income (excluding straight-lining rental income adjustments) of the Property for the
      year ended 31 March 2025, was c.R6,0 million. The disposal yield is 8,8%.

5.    CATEGORISATION OF THE TRANSACTION

      The Transaction is classified as a Category 2 transaction for Accelerate in terms of the JSE Listings
      Requirements and is accordingly not subject to shareholder approval.

Fourways
12 September 2025

Equity and Debt Sponsor
Questco Corporate Advisory

Date: 12-09-2025 09:25:00
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