Spear Holdco Proprietary Limited cancelled the letting enterprise agreement to acquire property at 142 Edward Street in Tygervalley from Ingenuity Property Investments Limited.

Spear Holdco Proprietary Limited entered into a letting enterprise agreement to acquire property at 142 Edward Street in Tygervalley from Ingenuity Property Investments Limited (JSE:ING) for ZAR 41.2 million on November 25, 2016. The purchase consideration will be paid by Spear Holdco on the date of transfer of the property into the name of Spear Holdco. The transaction will be funded by debt and/or equity raised through a Ingenuity Property Investments consideration placing. The transaction is subject to due diligence investigation and the investment committee of the Spear Holdco approving the acquisition and is expected to close by January 31, 2017. PSG Capital (Pty) Limited acted as financial advisor for Spear Reit Limited, the parent company of Spear Reit Limited, parent of Spear Holdco. Spear Holdco Proprietary Limited cancelled the letting enterprise agreement to acquire property at 142 Edward Street in Tygervalley from Ingenuity Property Investments Limited (JSE:ING) on November 25, 2017.