Pinnacle Holdings is a blue chip technology company listed on the JSE and includes companies such as Pinnacle Africa, Axiz Workgroup and Centrafin.  

New Vantage Directors Kyle Hyam and Dean Wiid negotiated the sale of the Midrand, Bloemfontein and Port Elizabeth distribution Centres to David Adams Property Group based in Cape Town. The buildings totalling 13 754m² were sold on long term leasebacks. 

Hyam comments: ”The reduction of Pinnacle Holdings gearing remains a key priority to the group and the proceeds of the sales, will go towards reducing this gearing.”

Pinnacle Holdings also sold land situated in Samrand. The land measuring approximately 5.2 hectares has access onto the N1 Highway and is an ideal site for distribution.

Dean Wiid says; "The land was sold to Invicta Holdings Ltd to cater for future expansion of companies within the Invicta Group."

Sale and leaseback transactions are growing in popularity as companies seek to improve liquidity on the balance sheet and focus on core competencies. Some of the latest transactions concluded over the last couple of months include the R2,7bn Macsteel/Redefine Properties transaction as well as the R1,1bn Aveng/Collins Property Group transaction.