Popular mall sold for R943 million in South African neighbourhood named one of the coolest in the world

·15 Jun 2026

The popular The Point Mall in Sea Point, Cape Town, is being sold in a R943 million deal, with the move receiving competition tribunal approval.

The deal will see the rental enterprise sold from Permasolve Investments (HCI), which is 70.59% owned by JSE-listed Hosken Consolidated Investments (HCI), to Future Indefinite Investments 180.

Future Indefinite will take full control over the mall. The company is a property investment group with interests in restaurants, office, hospitality, residential and industrial warehouses.

The Point Mall is a mixed-use property located in Sea Point, comprising retail space and A-grade office accommodation. Tenants include Checkers, Clicks, Kauai, Bootlegger and more.

Sea Point is renowned for its high-street shopping, promenade, hipster-friendly boutiques and a cosmopolitan corner of the city.

It was named as one of the coolest neighbourhoods in the world by TimeOut magazine.

The deal, which was announced in December 2025, formed part of HCI’s intention to dispose of certain of its real estate assets.

The group said that the sale would achieve a substantial return on HCI’s investment, generate significant cash flow, and reduce group debt.

The R943 million consideration will be used to settle portions of HCI’s group debt and preference share funding obligations, subject to Permasolve settling its borrowings and tax obligations.

In December, HCI said the property transfer was expected in the second quarter of 2026. The deal also required approval from the competition authority by 30 June 2026, which has been received.

As of 30 September 2025, the net assets attributable to the rental enterprise were R188,278,735.

Profits after tax attributable to the mall for the six months ended 30 September 2025 were R5,474,077. With the deal being a category 2 transaction, no shareholder approval is required for the sale.

This is not the only major sale for HCI, as the group also announced the sale of its 65% stake in Whale Coast Village Mall in Hermanus for R600 million.

Whale Coast Village Mall, which has 96 stores, is a premier shopping destination situated southeast of Cape Town.