To view the PDF file, sign up for a MySharenet subscription.

OASIS CRESCENT PROPERTY FUND - Voluntary Announcement: Leasing Of 32 Montreal Drive, Cape Town

Release Date: 23/08/2018 17:40
Code(s): OAS     PDF:  
Wrap Text
Voluntary Announcement: Leasing Of 32 Montreal Drive, Cape Town

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

 VOLUNTARY ANNOUNCEMENT: LEASING OF 32 MONTREAL DRIVE, CAPE TOWN

 1. Unitholders are referred to the Fund’s Final Preliminary Audited Results and Distribution
    Declaration announcement dated 3 May 2018, advising that the Fund was in the process
    of targeting top quality global logistics companies to tenant a newly developed, modern
    logistics facility, located in the Cape Town Airport City Industrial Park, which was acquired
    during the period ended March 2018.

 2. Unitholders are advised that the Fund has concluded a lease agreement (“Lease
    Agreement”) for the above premises with one of the leading global logistics companies.
    This is an exciting opportunity which initiates a mutually beneficial long-term relationship
    with a major multi-national player in the logistics sector.

 3. The conclusion of this Lease Agreement for the premises located in the Cape Town
    Airport City Industrial Park, together with a lease agreement in the process of being
    finalised for a tenant at The Ridge, should result in the vacancy of the Fund reducing to
    3.2% based on rental income. The Fund continues to focus on its strategy of improving
    the tenant mix, extending the lease expiry profile and reducing vacancy.


 4. The introduction of this multi-national to the portfolio further enhances the tenant profile of
    the Fund, which now has 72% of tenants classified as “A” grade. Tenants are classified
    as large or major (“A” grade) or medium to large (“B” grade) based on their financial
    soundness, profile and global or national footprint.

 Cape Town
 23 August 2018

 Designated Adviser
 PSG Capital

Date: 23/08/2018 05:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Share This Story