Texton Property Fund has released its financial results for the year ended 30 June 2025, highlighting a stronger balance sheet and progress in its SME-focused office and self-storage strategy while benefiting from its diversified assets across South Africa, the UK, and the USA.

During the reporting period, it sold 3 non-core assets —2 in the UK and 1 in South Africa—totalling R364.3 million, with proceeds earmarked for debt reduction.

The Company’s core vacancies increased slightly from 7.7% in FY2024 to 8.6% as of 30 June 2025. On a like-for-like basis, net property income (NPI) in South Africa remained relatively flat at R127.4 million for the year (FY2024: R125.9 million), despite the sale of non-core assets.

Its UK assets recorded a decrease in NPI by R19.7 million, mainly due to the disposal of Gainsborough and Peterlee, while the addition of its North Carolina asset in the USA contributed R5.6 million to NPI.

The Company also noted that its debt reduction of R278.2 million, along with lower interest rates, positively impacted net finance costs, which decreased by R28.5 million.

Its distributable income decreased from R79.9 million in FY2024 to R73.8 million in FY2025, largely due to the sale of properties during the latter part of FY2024 and early part of FY2025.

The REIT paid a dividend of 20.12 cents per share and a Return of Contributed Tax Capital (CTC) of 79.8 cents per share, for a total distribution of R1 per share. Post yearend, it declared a further Return of CTC of 63.87 cents per share, bringing the total distribution for the period to 163.87 cents per share and amounting to a total distribution of R490 million.