A portfolio of three investment properties, all tenanted by national tenant, Midas Group, has been sold by Bales Delaporte on behalf of a private investor. 

Guy de la Porte, who was able to use his extensive experience in both lease negotiations and property sales to the benefit of all parties to negotiate the sale and leases, says that as an integral part of the transaction Bales Delaporte had to negotiate new leases with the tenants, thus ensuring they have secure, long-term tenure for their businesses. 

“The Midas Group has managed to renew their leases on terms and conditions favourable to themselves and their new business partners, General Motors (GM).” 

“The leases now comply with GM’s worldwide lease policies, ensuring diligent environmental management on the part of both tenant and landlord,” says de la Porte. 

Due to the complex nature of the transaction, this multiple negotiation took 12 months to complete, with the value of the portfolio being approximately R15m, giving the investors an initial yield in excess of 11% return. 

Ends
Issued by:                    
Catherine Pate
082 922 1737
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On behalf of:                 
Bales Delaporte
Tony Bales
083 675 3773
www.balesdelaporte.co.za