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TechCentral reports that the SA Broadcasting Corporation (SABC) advised on Friday that it would be issuing notices of termination of lease agreements for its non-core properties and would sell them at an upcoming public auction.
The assets to be auctioned off include residential properties leased to both SABC employees and non-employees. Termination notices will be issued effective 1 December. Because the properties will be sold through a public auction, the public broadcaster said it would not be able to offer right of first refusal to current tenants. But, it did indicate in a statement: “In an effort to accommodate the tenants, given that the festive season is upon us, the corporation also deemed it appropriate to extend the termination notice period beyond that of the lease agreements. Tenants will further be given all the relevant support during this time.” The disposal of non-core assets is part of the organisation’s turnaround strategy. The broadcaster did not say how many properties would be sold or how much it expected to raise through the process.
- Read the full original of the report in the above regard at TechCentral
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