What is an off-market property deal in South Africa?

An off-market deal is a property sale that is never advertised publicly. The seller instructs a broker to approach a shortlist of qualified buyers directly, usually under NDA, so tenants and staff are not unsettled and no asking price sits on a portal.

How does a buy-side acquisition mandate work?

The buyer sets out asset class, node, ticket size, minimum yield and funding structure in writing. The broker then sources only stock matching that brief, presents it with lease schedules and recovery analysis, and negotiates on the buyer's behalf.

Do I pay a fee as a buyer on an off-market acquisition?

On most transactions the commission is carried by the seller, as it is on a listed sale. Where a buyer instructs a search for stock that is not on the market at all, a separate buy-side mandate fee may apply and is agreed in writing before any work starts.

How long does an off-market commercial property sale take?

A tenanted commercial sale in South Africa typically runs three to six months from offer to transfer, driven by bond approval, due diligence on leases and municipal accounts, rates clearance figures and Deeds Office lodgement.

Acquisitions & disposals

The commercial property that never reaches a portal.

A large share of good commercial and industrial stock in South Africa changes hands without ever being advertised. Stone Capital works both sides of those transactions: written buy-side mandates for investors, and discreet disposals for owners who do not want a board on the building.

Industrial, logistics, retail, office, mixed-use and development land. R5 million to R150 million and above.

For buyers

A written mandate, not a mailing list

Most buyers get sent everything and shown nothing. We take the opposite approach. Before we send you a single property we agree, in writing, what you are actually buying:

Asset class and the nodes you will and will not consider
Ticket size, and whether it is cash, bonded or partly geared
Minimum yield, and whether you are buying income or upside
Tenant covenant and lease expiry you are prepared to carry
Timeline, and who signs

Everything then presented to you comes with the lease schedule, the recovery structure, the municipal position and an honest read on what the building will cost to hold. If a deal does not work, we will tell you why rather than let you find out in due diligence.

For sellers

Sell without telling the market

There are good reasons not to advertise a building. Tenants renegotiate when they hear the landlord is selling. Staff start looking. A price that sits on a portal for a year becomes the price everyone assumes you will take.

No portal listing, no board, no signage
Shortlist of pre-qualified buyers, approached under NDA
Proof of funds confirmed before anyone walks the building
Tenants only informed once the deal is unconditional
Offer to purchase, conveyancing and bond process managed through to transfer

Where we already manage the building, the lease schedule, arrears position and recovery history are current and audited, which shortens due diligence considerably and tends to hold the price.

Discuss a discreet disposal

How a transaction runs

From mandate to transfer

STEP 01

Brief

Written mandate signed. Asset class, node, ticket, yield floor and funding confirmed.

STEP 02

Search

Direct owner approaches and our own network. Nothing is presented that does not fit the brief.

STEP 03

Diligence

Leases, recoveries, municipal accounts, rates clearance, zoning and building plans checked before offer.

STEP 04

Transfer

Offer to purchase, bond, conveyancing and Deeds Office lodgement managed to registration.

Get started

Register a mandate

Tell us what you are buying or selling. Everything sent here is treated as confidential and is not shared outside Stone Capital without your instruction.

Common questions