At a Glance
- Deneb unit Sargas agreed to sell Mobeni Industrial Park in Durban for $9.6 million.
- Sale proceeds will be used by Deneb to reduce debt and strengthen its balance sheet.
- Transaction, classified as Category 2 under JSE rules, excludes the need for shareholder approval.
Deneb Investments Limited, a Johannesburg-listed diversified investment group, through its wholly-owned subsidiary Sargas Proprietary Limited, has agreed to dispose of Mobeni Industrial Park in Durban to Siana Property Proprietary Limited for R170 million ($9.6 million), excluding VAT.
Signed on Aug. 19, 2025, the agreement covers Erf 3813 Mobeni, a 4.41-hectare industrial site at 9 Warrington Road, Durban, classified as a going concern. The purchaser, a wholly-owned subsidiary of Solena Property Proprietary Limited, is not a related party to the seller.

Deal terms
The consideration will be settled in cash upon registration of transfer, expected by the end of January 2026. A R4 million ($226,451.05) deposit will be lodged into the conveyancers’ trust account, with the balance secured by a bank guarantee.
The transaction is subject to several conditions precedent, including the deposit payment, board approval from the seller, consent from the bondholder to release the mortgage, potential Competition Commission clearance, and renewal of an existing lease on the property. The sale is on a voetstoots basis following a purchaser due diligence.
Financials and rationale
The property generated profit after tax of R11.5 million ($651,042) in the year ended March 31, 2025, according to unaudited management accounts. Net assets were valued at R170 million ($9.6 million) as of the same date as tracked by Shore Africa.
Deneb said the asset is not core to its strategy, and disposal proceeds will be applied to reduce debt.
Transaction classification
Deneb Investments, a diversified investment company operating predominantly in Southern Africa with subsidiaries in Switzerland and Hong Kong, holds interests across various sectors, including manufacturing and property.
The company said it remains committed to actively managing its property assets to enhance long-term shareholder value.
The disposal qualifies as a Category 2 transaction under the JSE Listings Requirements and therefore does not require shareholder approval.