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Orion sells Western Cape retail centre for R28m

Orion sells Western Cape retail centre for R28m

Photo by Reuters

14th January 2015

  

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JSE-listed Orion Property Holdings has disposed of its Mountain View Shopping Centre, in the Western Cape, for R27.75-million.

The company noted that the sale of the property to Milprops 365 would result in a reduction of investment property of R16.29-million, a reduction in borrowings of R21.95-million and an increase in cash of R4.78-million, before brokerage costs and after taxation.

The 3 427 m2 property had Woolworths Food as its main anchor.

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Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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