Accelerate Property Fund agrees to sell KPMG Crescent property company to Rand Mutual for R 385 million
Bitget2026/09/25 11:20- Accelerate Property Fund is selling 100% of Wanooka Properties to Rand Mutual Assurance for R 385 million in cash.
- Wanooka owns the KPMG Crescent office property and the parkade at 85 Empire Road, Parktown, Johannesburg.
- Accelerate will fund about R 15 million of maintenance and capital improvements, implying a net pre-commission price of R 370 million.
- KPMG agreed an exit date of April 30, 2027 under the existing lease at KPMG Crescent.
- Broker commissions of R 10.5 million will be paid; the group plans to use most proceeds to cut debt.
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