Property loan stock company Investec Property Fund is seeking to purchase a property in Midrand from North Mid Corporate Park for $92.346 million, Business Day reports. The buyer will also be responsible for the refurbishment of the property at a fixed cost of $50.85 million, increasing the total deal cost to $143.491 million.

The total deal will be financed by debt. The property is leased to General Electric since August 1999. The fund, which had four retail properties, seven offices and 18 industrial properties when it listed on the Johannesburg Stock Exchange, bought Great North Road Plaza in Musina for $17.478 million last month.

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