{"id":789240,"date":"2024-09-03T08:00:00","date_gmt":"2024-09-03T06:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=789240"},"modified":"2024-09-02T15:46:55","modified_gmt":"2024-09-02T13:46:55","slug":"shoprite-and-checkers-sell-award-winning-shopping-centre-in-the-cape","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/789240\/shoprite-and-checkers-sell-award-winning-shopping-centre-in-the-cape\/","title":{"rendered":"Shoprite and Checkers sell award-winning shopping centre in the Cape"},"content":{"rendered":"\n

Shoprite Checkers is selling the award-winning Drakenstein Centre (Drakenstein Sentrum) in Paarl, Western Cape, to FPG Holdings.<\/p>\n\n\n\n

The Drakenstein Centre is a 9,000-square-meter shopping mall owned and developed by the Shoprite Group.<\/p>\n\n\n\n

The project was designed and overseen by SVA International, South Africa’s leading architecture and urban design firm.<\/p>\n\n\n\n

The firm completed and handed over the shopping centre to its owners, Shoprite Checkers, in October 2021.<\/p>\n\n\n\n

The Drakenstein Centre is situated on the corner of Wemmershoek and Lustigang Roads along the Winelands corridor which connects Paarl with Franschhoek.<\/p>\n\n\n\n

It is an important retail node for the existing surrounding developments, including the Boschenmeer Golf Estate and Val de Vie.<\/p>\n\n\n\n

The shopping mall positions itself as offering a boutique retail offering, including fashion and footwear, health and beauty, home and d\u00e9cor, and food and beverages.<\/p>\n\n\n\n

The brands include Starbucks, Woolworths Food, Clicks, Rain, Sorbet, Wellness Warehouse, Boorlegger, and Whitehouse.<\/p>\n\n\n\n

Checkers is an anchor tenant in the mall. In November 2021, it opened its state-of-the-art supermarket at the Drakenstein Centre in Paarl.<\/p>\n\n\n\n

It created 182 new jobs and elevated the customer experience by introducing in-store services, a strong emphasis on fresh food, and greater convenience. <\/p>\n\n\n\n

The Checkers store features a Krispy Kreme coffee shop, a chocolatier bar, a sit-down sushi bar, a honey bar, stone-baked pizzas, and a dedicated health and wellness section.<\/p>\n\n\n\n

It further offers artisanal breads, over 400 local and international cheeses, and wines from over 100 leading estates.<\/p>\n\n\n\n

The South African Council of Shopping Centre\u2019s (SACSC) Annual Retail Design and Development Awards (RDDA) recognised the centre\u2019s great design.<\/p>\n\n\n\n

Drakenstein Centre was named the best new shopping centre development in the 2022 SACSC awards.<\/p>\n\n\n\n

It also achieved recognition as a finalist in the 2022 Steel Awards, presented by the Southern African Institute of Steel Construction (SAISC).<\/p>\n\n\n\n

Shoprite Checkers selling the Drakenstein Centre<\/strong><\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n

The Competition Commission has recently approved a deal in which Shoprite Checkers plans to sell the Drakenstein Centre to FPG Holdings.<\/p>\n\n\n\n

FPG Holdings, which is buying the mall, is a wholly owned subsidiary of FPG Property Fund, which is, in turn, owned by FPG Investments.<\/p>\n\n\n\n

It is a private property fund that purchases, invests in, and constructs commercial and residential properties in South Africa.<\/p>\n\n\n\n

FPG Holdings invests in rentable office, retail, and industrial properties in the Western Cape, Northern Cape, Gauteng, and North West.<\/p>\n\n\n\n

FPG Holdings\u2019s retail projects include Paardevlei Sentrum, Blue Downs, Stelmark centre, Somerset Square, and Moreleta Corner.<\/p>\n\n\n\n

It has a strong focus on the Western Cape, which means the Drakenstein Centre first well into its portfolio.<\/p>\n\n\n\n

The Competition Commission said the proposed transaction is unlikely to lessen or prevent competition substantially and does not raise public interest concerns.<\/p>\n\n\n\n

\n\n\n\n

Read: Major upgrade for Joburg shopping mall \u2013 opening next month<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Shoprite Checkers is selling the award-winning Drakenstein Centre (Drakenstein Sentrum) in Paarl, Western Cape, to FPG Holdings.<\/p>\n","protected":false},"author":10,"featured_media":789244,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[5223,20475,20476,7520],"class_list":["post-789240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-checkers","tag-drakenstein-centre","tag-fpg-holdings","tag-shoprite"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/789240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=789240"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/789240\/revisions"}],"predecessor-version":[{"id":789261,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/789240\/revisions\/789261"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/789244"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=789240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=789240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=789240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}