BRIEF-Accelerate Property Says Disposal Of Edcon Warehouse For 94 Mln Rand

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BRIEF-Accelerate Property Says Disposal Of Edcon Warehouse For 94 Mln Rand
Credit: © Reuters.

Nov 15 (Reuters) - Accelerate Property Fund Ltd APFJ.J :

* JSE: APF - VOLUNTARY ANNOUNCEMENT - THE DISPOSAL BY ACCELERATE OF EDCON WAREHOUSE

* ACCELERATE PROPERTY FUND LTD - ENTERED INTO A SALE OF LETTING ENTERPRISE AGREEMENT WITH SHERATON TEXTILES HOLDINGS TO DISPOSE OF EDCON WAREHOUSE

* ACCELERATE PROPERTY FUND LTD - PROPERTY IS BEING SOLD FOR R 94 MILLION AT A YIELD OF 10.0%

* ACCELERATE PROPERTY FUND LTD - CONSIDERATION FOR TRANSACTION SPLIT BETWEEN CASH AND REFUNDABLE DEPOSIT

* ACCELERATE PROPERTY FUND LTD - INTENDS TO UTILISE FULL SALE PROCEEDS TOWARDS REDUCTION OF DEBT

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