Moolgem sells Limpopo property to Depoway

8th September 2020

By: Tasneem Bulbulia

Senior Contributing Editor Online

     

Font size: - +

Moolgem has agreed to sell the Jane Furse Crossing rental enterprise, in Limpopo, to Depoway as a going concern for R174-million.

Moolgem is a subsidiary of Cumulative Properties, which is a wholly-owned subsidiary of JSE-listed Arrowhead Properties.

Arrowhead says the disposal is in line with its previously announced disposal programme aimed at repositioning the company’s property portfolio through strategic disposals.

The proceeds of the transaction will be used to reduce debt in line with Arrowhead’s intention to improve gearing and strengthen the company’s balance sheet.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

The content you are trying to access is only available to subscribers.

If you are already a subscriber, you can Login Here.

If you are not a subscriber, you can subscribe now, by selecting one of the below options.

For more information or assistance, please contact us at subscriptions@creamermedia.co.za.

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION