An unknown buyer entered into a sale agreement to acquire Pick n Pay Distribution Centre in Pinetown, Kwazulu Natal from Tower Property Fund Limited for ZAR 96 million.

Tower Property Fund Limited is a property investment company. The Company owns a portfolio of approximately 43 retail, office and industrial properties in South Africa and Croatia. Its South African portfolio is spread across the Western Cape, Gauteng and KwaZulu-Natal. The Company's portfolio of properties includes Cape Quarter, a retail and office building in De Waterkant, Cape Town; VMD Kvart Block B, an office property in Zagreb, Croatia; Link Hills Shopping Centre, an office and retail property in Kwazulu-Natal; SunClare Office Block in Claremont, Cape Town, and Upper Grayston Drive Office Park in Sandton. Its properties also include Clifton Place, an office and retail property in Cor Hurst and Stephen Dlamini Streets, Berea, Durban; 32 Napier Rd, Cape Town; 320 Kuit Street, Waltloo, Pretoria; Sparrow Shopping Centre, a retail property in Nelson Mandela Drive, Modimolle, and sunclare, an office and retail property in 15 Dreyer Street, Claremont, Cape Town.