Shoprite Checkers sells big Cape Town shopping centre

The Competition Commission has given Shoprite Checkers the green light to sell the Sandown Retail Crossing in Parklands, Cape Town, to FPG Holdings.

The Sandown Retail Crossing opened in 2012 and has a gross leasable area (GLA) of 26,800 square meters with 42 stores.

It promotes itself as a family centre with a mix of food, affordable fashion, home and décor, and several speciality stores.

Checkers Hyper and House & Home are the anchor tenants, alongside big brands like Auto Pedigree, Burger King, Dial A Bed, KFC, McDonald’s, Nando’s, Postnet, And Remax.

The shopping centre also houses the Sandown Medical Centre, Tiger Wheel & Tyre, Seattle Coffee, Plumblink, and Bootlegger.

Speciality stores include Urban City Locksmith, The Nail & Beauty Company, SA Biltong Master, Quench, and Bumps to Babes.

Shoprite Checkers has been offloading some of its properties, including the Drakenstein Centre and the Sandown Retail Crossing.

In August, the Competition Commission approved a deal to sell the Drakenstein Centre in Paarl to FPG Holdings.

FPG Holdings is controlled by FPG Property Fund, which is, in turn, controlled by FPG Investments. FPG Investments controls several firms.

FPG Holdings invests in rentable office, retail, and industrial properties in the Western Cape, Northern Cape, Gauteng, and North West.

Its national property portfolio includes light industrial, office, retail, and residential developments and property letting enterprises.

This week, the Competition Commission recommended that the Tribunal approve Shoprite Checkers’ sale of Sandown Retail Crossing to FPG Holdings.

The commission focussed on FPG Holdings’ retail property activities in the Western Cape related to this transaction.

Its retail properties include local convenience centres, minor regional centres, value centres, and neighbourhood centres.

The Commission said the proposed transaction is unlikely to substantially lessen or prevent competition in any market.

“The proposed transaction does not raise significant public interest concerns,” the Competition Commission said in a statement. It approved the deal without conditions.

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