Sharenet Sites 
Sharenet Sites
Voluntary Update: Acquisition of 27 Junction Road, Parow
SPEAR REIT LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 2015/407237/06)
Share Code: SEA
ISIN: ZAE000228995
LEI: 378900F76170CCB33C50
Approved as a REIT by the JSE
(“Spear” or “the Company”)
VOLUNTARY UPDATE: ACQUISITION OF 27 JUNCTION ROAD, PAROW
Shareholders are referred to the announcement released by the Company on SENS on
31 January 2022, in which it was announced that Spear entered into an agreement to acquire
the immovable property known as Erf 22775 Parow, situated at 27 Junction Road, Parow
(“Property”) and the letting enterprise conducted on such Property, for a gross purchase
consideration of R65 million (“Acquisition”).
Shareholders are advised that the Acquisition has been successfully implemented and that
the Property was transferred to Spear on 9 May 2022. The Property comprises of a 11 500m²
industrial building constructed on a 2,4 hectare erf, which is located in the highly desirable
industrial node of Parow Industria. The Property is currently fully let and yielding rental income
for Spear.
Shareholders are further advised that Spear has entered into a 10 year and 9 month lease
agreement with Pepkor Trading Proprietary Limited (“Pepkor”), who will use the Property for
logistics, assembly and bulk storage. Pepkor will take occupation of the Property on an agreed
date, post tenant specific installation being completed and the current tenant vacating the
Property.
The Acquisition aligns with Spear's strategy to increase its holdings of long-dated industrial
assets in the Western Cape with high quality tenant covenants providing sustainable income
streams. Spear’s regional focus and proximity to the local market will continue to unlock high
quality investment opportunities for Spear.
This Acquisition will contribute meaningfully to Spear’s earnings going forward, as the
acquisition is accretive from the transfer date.
The Acquisition is uncategorised in terms of the JSE Limited Listings Requirements, and the
information contained in this announcement has been voluntarily disclosed by the Company.
Cape Town
12 May 2022
Sponsor
PSG Capital
Date: 12-05-2022 02:10:00
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.
