Shoprite Checkers selling its shopping centres across South Africa

Shoprite Checkers, South Africa’s largest and most successful retailer, is selling its shopping centres across the country.

Shoprite is Africa’s largest retailer in terms of market capitalisation, sales, profit, and number of employees and customers.

In the last financial year, Shoprite increased sales by 12% to R240.7 billion and trading profit by 12.4% to R13.4 billion.

Online sales from its industry-leading on-demand delivery platform, Checkers Sixty60, grew by 58.1% and continues to disrupt South Africa’s retail market.

Checkers Sixty60 expanded beyond groceries to include general merchandise delivered by its new fleet of Checkers Hyper delivery vans.

Despite Shoprite’s success, it is disposing of many of its assets, including its OK Furniture and House & Home brands.

Last year, Shoprite chief executive Pieter Engelbrecht announced that it was selling its furniture business to Pepkor.

It said its capital and project management resources are better spent on its retail food operations.

Another group of assets Shoprite Checkers is selling is its shopping centres, many of which are based in popular areas.

Shoprite Checkers’ existing property portfolio comprises both owned and head-leased properties.

These include vacant land, retail shopping centres, stand-alone supermarket buildings, distribution centres, and offices.

Over the last few months, Shoprite Checkers has been selling many of its retail shopping centres.

In September 2024, Shoprite Checkers sold the award-winning Drakenstein Centre in Paarl, Western Cape, to FPG Holdings.

The Drakenstein Centre is a 9,000-square-meter shopping mall owned and developed by the Shoprite Group.

In November 2024, Shoprite told Sandown Retail Crossing to FPG Holdings, which has a national property portfolio.

Sandown Retail Crossing is located on the corner of Wood Drive and Sandown Road in Parklands, Cape Town.

The shopping centre opened in 2012 and has a gross leasable area (GLA) of 26,800 m² with 42 stores.

In January 2025, the Competition Commission approved the transaction whereby Imperial Red will buy the Brookside Mall from Shoprite Checkers.

It is unclear why Shoprite is selling these shopping centres, and the company is unwilling to discuss the issue.

A Shoprite spokesperson explained that they are selling selected properties to focus on its core retail business.

“The sale of these properties will allow the group to allocate resources more effectively towards the continued improvement of its retail offering,” Shoprite said.

Here is a list of shopping centres Shoprite Checkers have sold over the last few months.

Drakenstein Centre in Paarl

Sandown Retail Crossing

Brookside Mall