The Property is known as The Hanger situated at corner Bosboknook and South Streets, Centurion, Pretoria and comprises six blocks of residential accommodation.
The Acquisition will further enhance Premium's residential property portfolio.
The purchase consideration payable by the Purchaser is R114 920 000 which will be settled in cash and discharged on transfer of the Property.
The effective date of the Acquisition is conditional upon the fulfilment of various conditions precedent and is expected to be during June 2013.
The Acquisition falls below the categorisation thresholds of the JSE Limited Listings Requirements and this announcement is made on a voluntary basis.
