{"id":827102,"date":"2025-06-06T09:07:27","date_gmt":"2025-06-06T07:07:27","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=827102"},"modified":"2025-06-06T10:45:24","modified_gmt":"2025-06-06T08:45:24","slug":"three-south-african-shopping-malls-sold-for-r209-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/827102\/three-south-african-shopping-malls-sold-for-r209-million\/","title":{"rendered":"Three South African shopping malls sold for R209 million"},"content":{"rendered":"\n<p>Collins Property Group is selling the Nquthu Shopping Centre, Ezulwini Royal Shopping Centre, and the Eyethu Junction Shopping Centre. It will use the money to fund investments in the Netherlands.<\/p>\n\n\n\n<p>The Collins Property Group is a commercial property development and investment group involved in new developments and the refurbishment of existing properties.<\/p>\n\n\n\n<p>The company was founded in 1904 as a family-owned steam joinery workshop, before evolving into a property development company.<\/p>\n\n\n\n<p>The Collins Property Group currently has over 120 properties throughout Southern Africa and Europe and is actively working on its portfolio.<\/p>\n\n\n\n<p>It is listed as a Real Estate Investment Trust on the Johannesburg Stock Exchange (JSE). Its share price has been relatively flat over the last five years.<\/p>\n\n\n\n<p>On Thursday, Collins Property Group announced that its subsidiary, Imbali Props 21, has agreed to sell two of its shopping centres.<\/p>\n\n\n\n<p>It is selling the Nquthu Shopping Centre and Ezulwini Royal Shopping Centre situated in Ulundi to Fairvest for R106 million.<\/p>\n\n\n\n<p>Colkru Investments, a 90% owned subsidiary of Collins, has signed an agreement to sell its Eyethu Junction Shopping Centre to Fairvest for R103 million.<\/p>\n\n\n\n<p>The net operating income of the Nquthu and Ulundi Properties and Eyethu for the twelve months ended 28 February 2025 is R9,590,962 and R9,830,718, respectively.<\/p>\n\n\n\n<p>The Collins Property Group stated that these transactions are part of its strategy to recycle capital.&nbsp; The net proceeds have been earmarked to <a>fund investments in the Netherlands.<\/a><\/p>\n\n\n\n<p>It said the purchase consideration attributable to each of the shopping centres is considered to be fair market value, as determined by the Collins directors.<\/p>\n\n\n\n<p>The Collins Property Group said the transactions, when aggregated, constitute a category 2 transaction, which is not subject to shareholder approval.<\/p>\n\n\n\n<p>The table below provides details about the purchase consideration attributable to each of the shopping centres.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/06\/1-9.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"941\" height=\"323\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/06\/1-9.jpg\" alt=\"\" class=\"wp-image-827103\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/06\/1-9.jpg 941w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/06\/1-9-300x103.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2025\/06\/1-9-768x264.jpg 768w\" sizes=\"auto, (max-width: 941px) 100vw, 941px\" \/><\/a><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>Collins Property Group is selling the Nquthu Shopping Centre, Ezulwini Royal Shopping Centre, and the Eyethu Junction Shopping Centre.<\/p>\n","protected":false},"author":10,"featured_media":827152,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[22775,22732,22774,22773,22776,22772],"class_list":["post-827102","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-colkru-investments","tag-collins-property-group","tag-eyethu-junction-shopping-centre","tag-ezulwini-royal-shopping-centre","tag-fairvest","tag-nquthu-shopping-centre"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/827102","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=827102"}],"version-history":[{"count":4,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/827102\/revisions"}],"predecessor-version":[{"id":827153,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/827102\/revisions\/827153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/827152"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=827102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=827102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=827102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}