Octodec completes R400m Killarney Mall disposal

Octodec Investments has completed the R397.5 million disposal of Killarney Mall, with ownership transferred to AJPG Property 1 on 2 November 2026, the group said in a Sens announcement late last week.

The transaction follows the fulfilment of all conditions precedent, including Competition Commission approval, with proceeds earmarked partly for reducing borrowings and funding the group’s strategic priorities.

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Riaan Erasmus, deputy CEO and financial director of Octodec Investments, says 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.”

Octodec first announced the proposed disposal on 24 February 2026. The agreement was subject to the fulfilment of certain conditions precedent and agreed adjustments, which have now been met.

The transaction involves the sale of 100% of the shares and claims in Killarney Mall Properties, a wholly owned subsidiary of Octodec, to AJPG Property 1 Proprietary Limited. The disposal forms part of the group’s strategy to recycle capital from non-core assets and reshape its property portfolio.

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Erasmus says the disposal supports the group’s broader objective of creating a stronger, more focused portfolio. The proceeds will be used, among other things, to pay down borrowings and execute Octodec’s strategic priorities.

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* Phenyo Selinda is a Moneyweb intern.