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Ingenuity Property Investments Ltd Announces Acquisition Of Property


Monday, 30 Sep 2013 10:45am EDT 

Ingenuity Property Investments Ltd announced that it has entered into an agreement (the Agreement) with Villager Investments No 1 (Proprietary) Limited, The Retreat Trust and Acucap Investments (Proprietary) Limited, jointly trading as The White Road Joint Venture (White Road or the Seller), in terms of which Ingenuity will acquire the rental enterprise, including the property situated at 64 White Road, Retreat, Cape Town and known as Tellumat Retreat (the Property) (the Acquisition). The Acquisition will become effective on transfer which is expected to be on or about April 1, 2014 (the Transfer Date). The total consideration for the Acquisition is ZAR124.5 million. 

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