Delta Property Fund has agreed to sell a Pretoria office property for R35-million as the real estate investment trust (REIT) continues to dispose of non-core assets to reduce its debt burden.
The company announced on Tuesday that it had signed an agreement to sell Hatfield Forum East, located on Arcadia Street in Hatfield, Pretoria, to NXTGEN Student Housing.
Their portfolio of over 790 000 square metres of lettable space across South Africa includes SARS Randburg, Parkmore, the Bloemfontein Old Mutual Building and the African Life Building, among others.
Hatfield Forum East is a 6 390 square metre office building with a vacancy rate of 39%, according to Delta’s latest audited results. According to Delta, the property generated a net operating income of R6.9-million and was independently valued at R45.9-million as at February 28, 2026.
Property portfolio optimisation
Delta revealed that the disposal forms part of its ongoing strategy to optimise its property portfolio by selling assets that are no longer considered strategic to the business.
“As part of the company’s business and portfolio optimisation strategy, it was decided to dispose of assets which are no longer strategic to the company and are deemed to be ‘non-core’.
“In keeping with this strategy, the company has taken a decision to dispose of the property given its “non-core” status. The net proceeds from the disposal will be utilised by the company to reduce its debt balance,” the company said.
Deposit already paid
A non-refundable deposit has already been paid, while the remaining balance will be secured through guarantees that must be delivered within 90 business days and paid on transfer of the property.
The transaction is expected to become effective once the property is transferred, which Delta anticipates will take place around January 31, 2027, subject to the necessary regulatory approvals.
Delta also confirmed that it has completed the transfer of two previously announced property sales, In2Fruit in Ekurhuleni and 88 Field Street in Durban.
The company said the proceeds from those disposals have already been used to settle debt linked to the properties.
- Delta Property Fund agreed to sell Hatfield Forum East, a Pretoria office building, for R35 million to NXTGEN Student Housing as part of a debt reduction strategy.
- Hatfield Forum East is a 6,390 sqm property with a 39% vacancy rate, generating R6.9 million in net operating income and valued at R45.9 million as of February 2026.
- The sale is part of Delta's broader portfolio optimisation to dispose of non-core assets and focus on strategic properties.
- A non-refundable deposit has been paid, with the balance to be secured and the transaction expected to finalize by January 31, 2027, pending regulatory approvals.
- Delta has completed previous sales (In2Fruit and 88 Field Street), using those proceeds to reduce related debt.
Delta Property
Hatfield Forum East is a 6 390 square metre office building with a vacancy rate of 39%, according to Delta's latest audited results.
Delta revealed that the disposal forms part of its ongoing strategy to optimise its property portfolio by selling assets that are no longer considered strategic to the business.
“As part of the company’s business and portfolio optimisation strategy, it was decided to dispose of assets which are no longer strategic to the company and are deemed to be ‘non-core’.
“In keeping with this strategy, the company has taken a decision to dispose of the property given its “non-core” status.
A non-refundable deposit has already been paid, while the remaining balance will be secured through guarantees that must be delivered within 90 business days and paid on transfer of the property.
Delta also confirmed that it has completed the transfer of two previously announced property sales, In2Fruit in Ekurhuleni and 88 Field Street in Durban.
