Sale of four popular shopping malls in South Africa gets the green light
Four shopping centres in Hatfield, Pretoria, including Hatfield Plaza Shopping Centre, have been sold to Bright Ally Investments Enyuka Prop Holdings.
The purchasers are purchasing a group of properties from Hatvest (RF) (Pty) Ltd, with the Competition Commission approving the deal.
The commission approved the proposed transactions under which Bright Ally intends to acquire Hatvest’s shareholding in the properties in Hatfield, after which Enyuka will acquire Bright Ally, without conditions.
Bright Ally is a property holding company and is a wholly owned subsidiary of Oneeighty Holdings Two.
Enyuka is a specialised property investment company that primarily invests in rural and peri-urban retail properties in South Africa.
The properties are retail units situated right next to each other, forming part of the same block in Hatfield.
The largest property is the Hatfield Plaza Shopping Centre, which is a community shopping centre with a gross lettable area of 20,600 sqm.
The centre is conveniently located in the heart of Hatfield, which is Pretoria’s student district.
It is about a ten-minute walk from the University of Pretoria campus, and is also about a five-minute walk to the Hatfield Gautrain station.
Since 1991, the community shopping centre has served the surrounding community and the many students and academics who live, work, and study in the area.
There are 70 stores to choose from, with retailers at the centre including Pick n Pay, King Pie, Clicks, Cell C, Pep, Ackermans, Woolworths, Vodacom, Telkom, Mr Price, Cash Crusaders and many more.
The other properties in the transaction are Hatfield Mall, The Campus Building and Standard Plaza, which are all local convenience centres
Hatfield Mall has a GLA of 6,696 sqm, The Campus Building has 3,278 sqm, and Standard Plaza has 3,245 sqm.
The Competition Commission is of the view that the proposed transaction is unlikely to lessen or prevent competition in any market. The transaction also does not raise significant public interest concerns.
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