By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Shore AfricaShore AfricaShore Africa
Notification Show More
Font ResizerAa
  • Hot News
  • Tourism
  • Entertainment
  • Business
  • Luxury
  • Exclusive
  • Sports
  • Technology
Reading: Deneb Investments unit to sell Durban industrial park for $9.6 million
Share
Font ResizerAa
Shore AfricaShore Africa
Search
  • Hot News
  • Tourism
  • Entertainment
  • Business
  • Luxury
  • Exclusive
  • Sports
  • Technology
Have an existing account? Sign In
Follow US
Shore Africa > Hot news > Business > Deneb Investments unit to sell Durban industrial park for $9.6 million
Deneb Investments unit to sell Durban industrial park for $9.6 million
BusinessHot News

Deneb Investments unit to sell Durban industrial park for $9.6 million

Feyisayo Ajayi
Last updated: August 20, 2025 9:30 pm
Feyisayo Ajayi Published August 20, 2025
Share
Deneb Investments unit to sell Durban industrial park for $9.6 million
SHARE

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.

You Might Also Like

South Africa’s Top 7 luxury beaches for affluent travelers

Top 10 U.S. immigration routes for Africans

MTN, South African telecom giant, sees market cap increase to $13.3 billion

Egypt secures $134 million German finance deal, unlocks $24 million debt swap

Lighthouse raises $22.6 million in oversubscribed rights issue

TAGGED:Corporate asset disposalsDeneb Investments property saleDurban industrial park transactionFeaturedJSE-listed investment companiesSouth Africa real estate deals
Share This Article
Facebook X Email Print

Follow US

Find US on Social Medias
FacebookLike
XFollow
YoutubeSubscribe
LinkedInFollow

Weekly Newsletter

Subscribe to our newsletter to get our newest articles instantly!
Popular News
Bilene beach
LuxuryTourism

10 must-see beaches that make Mozambique a paradise

Oluwatosin Alao Oluwatosin Alao August 15, 2025
Africa’s top 20 leading free trade zones
Top 10 Africa’s eco-luxury hotels
Top ten Africa’s biggest insurance companies
Chobe Holdings leads Botswana’s hospitality sector with a market cap of $82 million
- Advertisement -
Ad imageAd image
Global Coronavirus Cases

Confirmed

0

Death

0

More Information:Covid-19 Statistics
- Advertisement -
Ad imageAd image
Deneb Investments unit to sell Durban industrial park for $9.6 million
BusinessHot News

Deneb Investments unit to sell Durban industrial park for $9.6 million

Deneb unit Sargas to sell Mobeni Industrial Park in Durban for $9.6 million, with proceeds set to cut debt.

Feyisayo Ajayi Feyisayo Ajayi August 20, 2025
TATA MOTORS
BusinessHot News

Tata Motors stages South Africa comeback with Motus partnership

Tata Motors teams with Motus to expand South Africa presence, adding 40 dealerships.

Timilehin Adejumobi Timilehin Adejumobi August 20, 2025
Champion-Breweries
BusinessHot News

Champion Breweries expands footprint with Bullet drinks acquisition

Champion Breweries bets on Bullet to scale distribution and boost market share in Africa.

Timilehin Adejumobi Timilehin Adejumobi August 20, 2025
Top 15 most valuable stocks on the Malawi stock exchange
BusinessHot News

Top 15 most valuable stocks on the Malawi stock exchange

Malawi Stock Exchange’s top 15 companies, led by banks and telecoms, account for nearly all market capitalization and investor growth.

Feyisayo Ajayi Feyisayo Ajayi August 20, 2025
Dipula to acquire Protea Gardens Mall for $25.6 million
BusinessHot News

Dipula to acquire Protea Gardens Mall for $27.1 million

Dipula Income Fund to buy Soweto’s Protea Gardens Mall for $27.1 million, boosting township retail and long-term growth prospects.

Feyisayo Ajayi Feyisayo Ajayi August 19, 2025
Deneb Investments unit to sell Durban industrial park for $9.6 million
BusinessHot News

Deneb Investments unit to sell Durban industrial park for $9.6 million

Feyisayo Ajayi Feyisayo Ajayi August 20, 2025
TATA MOTORS
BusinessHot News

Tata Motors stages South Africa comeback with Motus partnership

Timilehin Adejumobi Timilehin Adejumobi August 20, 2025
Champion-Breweries
BusinessHot News

Champion Breweries expands footprint with Bullet drinks acquisition

Timilehin Adejumobi Timilehin Adejumobi August 20, 2025

Categories

  • Business
  • Entertainment
  • Exclusives
  • Hot News
  • Luxury
  • Tourism

About US

A premier digital news platform spotlighting Africa’s top companies, business leaders, athletes, musicians, brands, and luxury destinations.

Our Team

Subscribe US

Shore.Africa is owned by Travel Shore, the media brand behind Shore Africa. Subscribe to our newsletter to get our newest articles instantly.

Feyisayo Ajayi 317 Articles
Feyisayo Ajayi is the Publisher and Co-founder of Shore Africa, the flagship media brand under the Travel Shore umbrella. He brings over a decade of multidisciplinary experience across media, finance, and technology. Feyisayo holds a bachelor’s degree in Geology from the University of Ibadan, Nigeria.
Omokolade Ajayi 85 Articles
Timilehin Adejumobi 223 Articles
Oluwatosin Alao 43 Articles
© Shore Africa All Rights Reserved.
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?