Fairvest sells Tokai Junction to FPG Holdings for R190 million

The disposal of Tokai Junction will be used to reduce Fairvest's debt.

Fairvest has announced that it will dispose of shopping centre Tokai Junction to FPG Holdings for a disposal consideration of R190 million.
According to a statement by Fairvest, the disposal is consistent with the company’s strategy of focusing on value extraction and practising disciplined, conservative financial management while maintaining a focus on retail asset.

The money received from the purchase will be used to reduce the company’s debt.