Aveng to sell Jet Park, Vanderbijlpark properties

Aveng to sell Jet Park, Vanderbijlpark properties

2nd August 2018

By: Creamer Media Reporter

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Construction firm Aveng has reached agreements to sell its Jet Park and Vanderbijlpark properties for R211.2-million and R42.6-million, respectively.

Aveng in February announced its decision to sell certain noncore assets and properties following a strategic review of the business.

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The group has now agreed to sell its Jet Park offices, in Boksburg, to Equites Property Fund. As part of the agreement, Aveng will enter into a triple net lease on the property for up to 24 months.

Further, it will sell its Vanderbijlpark property to Stodasat.

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The proceeds from the two sales will be used to strengthen the group’s financial position and reduce its debt