{"id":829577,"date":"2025-06-26T14:07:26","date_gmt":"2025-06-26T12:07:26","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=829577"},"modified":"2025-06-26T14:10:12","modified_gmt":"2025-06-26T12:10:12","slug":"r100-million-shopping-malls-sold-in-south-africa","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/829577\/r100-million-shopping-malls-sold-in-south-africa\/","title":{"rendered":"R100 million shopping malls sold in South Africa"},"content":{"rendered":"\n

The Competition Commission has recommended that the Competition Tribunal approve the sale of two shopping centres in KwaZulu-Natal worth R106 million.<\/p>\n\n\n\n

The commission approved the acquisition of the Nquthu Shopping Centre and Ezulwini Royal Shopping Centre in rural KZN, by JSE-listed REIT, Fairvest.<\/p>\n\n\n\n

Combined, the centres carry a value of R106 million and make up two of the five retail centres Fairvest is acquiring for around R480 million.<\/p>\n\n\n\n

The commission said the acquisition is unlikely to trigger any competition or public interest concerns.<\/p>\n\n\n\n

Fairvest already holds interests in several entities in the property sector, with most of its portfolio sourced in KZN. <\/p>\n\n\n\n

It owns standalone retail properties in the central business district (CBD), retail local convenience centres, retail neighbourhood centres and retail community centres.<\/p>\n\n\n\n

The malls are being acquired from Imbali Props 21 Proprietary Limited, a subsidiary of the Collins Property Group\u2014a commercial property development and investment group involved in new developments and the refurbishment of existing properties.<\/p>\n\n\n\n

The Collins Property Group currently has over 120 properties throughout Southern Africa and Europe and is actively working on restructuring its portfolio.<\/p>\n\n\n\n

Colkru Investments, a 90% owned subsidiary of Collins, has also signed an agreement to sell its Eyethu Junction Shopping Centre to Fairvest for R103 million.<\/p>\n\n\n\n

The Ezulwini Royal Shopping Centre is classified as a local convenience centre, located in Ulundi in KwaZulu-Natal. It has a gross lettable area of around 4,500 square metres and is valued at R39 million.<\/p>\n\n\n\n

The Nquthu Shopping Centre is also classified as a local convenience centre, located in Nquthu in KwaZulu-Natal. It has a gross lettable area of around 4,500 square metres and is valued at R67 million.<\/p>\n\n\n\n

In its latest results, Fairvest said that the acquisitions align with the group’s strategic objectives of investing in retail assets servicing the previously disadvantaged communities.<\/p>\n\n\n\n

It has been specifically targeting acquisitions that are located close to community centres and transport networks and are accretive to earnings.<\/p>\n\n\n\n

\n\n\n\n

Nquthu Shopping Centre – R67 million<\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n
\n\n\n\n

Ezulwini Royal Shopping Centre – R39 million<\/h2>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n
\"\"<\/a><\/figure>\n\n\n\n
\n","protected":false},"excerpt":{"rendered":"

The Competition Commission has recommended that the Competition Tribunal approve the sale of two shopping centres in KwaZulu Natal worth R106 million.<\/p>\n","protected":false},"author":10,"featured_media":829604,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[1516,22776],"class_list":["post-829577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-competition-commission","tag-fairvest"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/829577","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=829577"}],"version-history":[{"count":2,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/829577\/revisions"}],"predecessor-version":[{"id":829606,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/829577\/revisions\/829606"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/829604"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=829577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=829577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=829577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}