Bellingan Properties (Pty) Ltd signed a sale of letting enterprise agreement Pick ‘n Pay FDC from Accelerate Property Fund Limited (JSE:APF) for ZAR 50.5 million on September 11, 2020. The transaction consideration will be paid in cash. The transaction is subject to Bellingan Properties obtaining notification or the necessary funding of a minimum of 70% of the Purchase Price from a financial institution within 25 days of signature of the Sale Agreement and other necessary consents and approvals customary for a transaction of this nature. The transaction is expected to complete upon the satisfaction of the conditions expected to be during September 2020. The proceeds of the transaction will be utilized towards the reduction of debt.