Delta to sell Durban's tallest office tower

Delta Property Fund – the debt-laden real estate investment trust (Reit) listed on the JSE – has put its iconic 26-floor 88 Field Street building in Durban's CBD up for sale as the company pushes to slash its R3.9 billion debt.

- Suren Naidoo

The building – the tallest office tower in Durban and one of the tallest in South Africa – became an architectural signature of the city's skyline in 1985 when it was built for insurer Southern Life (which was absorbed into the Momentum Group).

Delta CEO Bongi Masinga did not want to comment on Tuesday specifically about the sale of 88 Field Street, barring a brief statement related to the fund's broader disposals process.

"The disposal of assets remains a core part of our strategy to reduce debt," she said.