Octodec completes R397.5m Killarney Mall disposal
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Octodec Investments has completed the R397.5 million sale of Killarney Mall, transferring ownership to AJPG Property 1 on 2 November 2026 after all conditions, including Competition Commission approval, were met.
Octodec Investments has completed the R397.5 million disposal of Killarney Mall, with ownership transferred to AJPG Property 1 on 2 November 2026, the Pretoria-focused real estate investment trust said in a Sens announcement late last week.
The transaction follows the fulfilment of all conditions precedent, including Competition Commission approval. Octodec said the proceeds are earmarked partly for reducing borrowings and funding the group's strategic priorities.
The deal involves the sale of 100% of the shares and claims in Killarney Mall Properties, a wholly owned Octodec subsidiary, to AJPG Property 1 Proprietary Limited. Octodec first announced the proposed disposal on 24 February 2026, subject to conditions precedent and agreed adjustments that have now been met.
Riaan Erasmus, deputy chief executive and financial director of Octodec, said the transaction advances the group's efforts to improve its portfolio and capital efficiency. "By successfully concluding this disposal, we have further advanced our programme of recycling capital from non-core assets while sharpening our focus on properties and sectors where we see the greatest potential to generate sustainable returns," he said.
The disposal forms part of Octodec's strategy to recycle capital out of non-core assets and reshape its portfolio, with proceeds also directed at paying down borrowings.