{"id":836209,"date":"2025-08-28T11:17:44","date_gmt":"2025-08-28T09:17:44","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=836209"},"modified":"2025-08-28T11:18:43","modified_gmt":"2025-08-28T09:18:43","slug":"sale-of-major-coastal-shopping-mall-in-south-africa-gets-the-green-light","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/836209\/sale-of-major-coastal-shopping-mall-in-south-africa-gets-the-green-light\/","title":{"rendered":"Sale of major coastal shopping mall in South Africa gets the green light"},"content":{"rendered":"\n

Shelly Centre, a popular shopping centre in KwaZulu-Natal, is being sold, with the deal receiving approval from the Competition Commission. <\/p>\n\n\n\n

Shelly Centre is a South African shopping centre in Shelly Beach. Its 70 stores serve the broader South Coast community from Hibberdene to Port Edward. <\/p>\n\n\n\n

The mall was the first major shopping centre in the area after it opened in 1985, which transformed the sleepy town of Shelly Beach. <\/p>\n\n\n\n

In 2015<\/a>, the mall received a multi-million rand upgrade, modernising its offerings. Although it was well-maintained, it had been 12 years since the previous upgrade.<\/p>\n\n\n\n

The mall\u2019s tenants include Woolworths, Pick n Pay, Mr Price, Clicks, Markham, Telkom, MTN, Foschini, Earthchild, Edgars, Cape Union Mart and several bank branches. <\/p>\n\n\n\n

Regarding food offerings, the mall has a Spur, Panarottis, Vida, Wimpy, Steers, Debonairs, Roco Mamas and a Mugg & Bean. <\/p>\n\n\n\n

Although the mall is also home to cinema chain Ster Kinekor<\/a>, the brand is set to exit the mall as per of a nationwide restructuring.  <\/p>\n\n\n\n

The mall is set to be under new ownership after the Competition Commission approved the transaction whereby Trident intends to acquire the property. <\/p>\n\n\n\n

Trident is a property investment holding company that owns commercial properties in South Africa, Australia and the United Kingdom. <\/p>\n\n\n\n

The group in South Africa owns roughly 28 properties in KZN, Western Cape, Gauteng, and the Eastern Cape provinces. <\/p>\n\n\n\n

The group is set to acquire the Shelly Centre from its owner, JSE-listed Sanlam. Sanlam is South Africa\u2019s largest insurer and has a market cap of roughly R200 billion. <\/p>\n\n\n\n

The Competition Commission believes that the proposed transaction is unlikely to prevent or lessen competition in any market substantially.<\/p>\n\n\n\n

To address public interest concerns, the acquiring firm is undertaking to procure management services from historically disadvantaged persons for the centre. <\/p>\n\n\n\n

In addition, the Competition Commission noted that Trident has also tendered employment commitments.<\/p>\n\n\n\n

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Images of Shelly Centre <\/h2>\n\n\n
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The sale of the Shelly Centre on KwaZulu-Natal’s South Coast has received approval from the Competition Commission. <\/p>\n","protected":false},"author":95,"featured_media":836222,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[2880,23487],"class_list":["post-836209","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-sanlam","tag-shelly-centre"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836209","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\/95"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=836209"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836209\/revisions"}],"predecessor-version":[{"id":836254,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/836209\/revisions\/836254"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/836222"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=836209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=836209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=836209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}