The Competition Commission has given Shoprite Checkers the green light to sell the Sandown Retail Crossing in Parklands, Cape Town, to FPG Holdings.<\/p>\n\n\n\n
The Sandown Retail Crossing opened in 2012 and has a gross leasable area (GLA) of 26,800 square meters with 42 stores.<\/p>\n\n\n\n
It promotes itself as a family centre with a mix of food, affordable fashion, home and d\u00e9cor, and several speciality stores.<\/p>\n\n\n\n
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.<\/p>\n\n\n\n
The shopping centre also houses the Sandown Medical Centre, Tiger Wheel & Tyre, Seattle Coffee, Plumblink, and Bootlegger.<\/p>\n\n\n\n
Speciality stores include Urban City Locksmith, The Nail & Beauty Company, SA Biltong Master, Quench, and Bumps to Babes.<\/p>\n\n\n\n
Shoprite Checkers has been offloading some of its properties, including the Drakenstein Centre and the Sandown Retail Crossing.<\/p>\n\n\n\n
In August, the Competition Commission approved a deal to sell the Drakenstein Centre in Paarl to FPG Holdings.<\/p>\n\n\n\n
FPG Holdings is controlled by FPG Property Fund, which is, in turn, controlled by FPG Investments. FPG Investments controls several firms.<\/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
Its national property portfolio includes light industrial, office, retail, and residential developments and property letting enterprises.<\/p>\n\n\n\n
This week, the Competition Commission recommended that the Tribunal approve Shoprite Checkers’ sale of Sandown Retail Crossing to FPG Holdings.<\/p>\n\n\n\n
The commission focussed on FPG Holdings\u2019 retail property activities in the Western Cape related to this transaction.<\/p>\n\n\n\n
Its retail properties include local convenience centres, minor regional centres, value centres, and neighbourhood centres.<\/p>\n\n\n\n
The Commission said the proposed transaction is unlikely to substantially lessen or prevent competition in any market.<\/p>\n\n\n\n
\u201cThe proposed transaction does not raise significant public interest concerns,\u201d the Competition Commission said in a statement. It approved the deal without conditions.<\/p>\n\n\n\n