{"id":847380,"date":"2026-01-08T12:00:00","date_gmt":"2026-01-08T10:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=847380"},"modified":"2026-01-08T11:01:19","modified_gmt":"2026-01-08T09:01:19","slug":"major-shopping-mall-in-south-africa-selling-for-r600-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/847380\/major-shopping-mall-in-south-africa-selling-for-r600-million\/","title":{"rendered":"Major shopping mall in South Africa selling for R600 million"},"content":{"rendered":"\n

<\/a>Hosken Consolidated Investments (HCI)\u00a0is selling its 65% stake in Whale Coast Village Mall in Hermanus for R600 million. <\/p>\n\n\n\n

The mall, which has 96 stores, is a premier shopping destination situated in Hermanus, southeast of Cape Town. <\/p>\n\n\n\n

The mall is accessible via the R43, and the shopping centre brings a selection of fashion, restaurants, speciality shops and convenience stores to the Overberg region.<\/p>\n\n\n\n

The mall, which boasts an award-winning design, offers essential services to the surrounding areas of Fisherhaven, Vermont, Onrus, and Hermanus.<\/p>\n\n\n\n

Anchor tenants include Checkers, Crazy Plastics, Woolworths and Food Lover\u2019s Market. The mall also has the only multi-purpose cinema, Road House Cinema. <\/p>\n\n\n\n

The total GLA of the mall is just under 30,000 m\u00b2, with owners including Dorpstraat Properties, Sandbaai Development Trust and Shoprite Checkers.<\/p>\n\n\n\n

HCI’s subsidiary, HCI-Whale Coast Village Proprietary Limited (HCI-WCV), has now entered into a sale agreement, in which HCI-WCV has agreed to dispose of its 65% undivided share of the mall. <\/p>\n\n\n\n

The sale will be made to Whale Coast Capital Investments Proprietary Limited and Whale Coast Village Mall Proprietary Limited. The two parties will acquire 40% and 25%, respectively. <\/p>\n\n\n\n

The aggregate purchase consideration is R600 million. HCI indirectly owns 80% of the shares in HCI-WCV. <\/p>\n\n\n\n

The purchase consideration will be used to settle taxes and the debt owed by HCI-WCV to its debt funders, which amounts to approximately R328 million. <\/p>\n\n\n\n

The remainder of the purchase consideration is intended to be distributed by HCI-WCV to its shareholders, including HCI. <\/p>\n\n\n\n

HCI noted that the transaction is subject to the fulfilment of several conditions precedent, including approval from competition authorities. <\/p>\n\n\n\n

The Transaction is not notifiable from a categorisation perspective in terms of the JSE Limited Listings, with no shareholder approval required for the sale. <\/p>\n\n\n\n

This is not the first major mall by HCI, which recently announced that another subsidiary, Permasolve, would sell the Point Mall in Cape Town for over R940 million. <\/p>\n\n\n\n

HCI stated that the sale of the Point Mall would generate a significant return on investment and strengthen the group’s cash flow position. <\/p>\n\n\n\n

As of September 30, the rental enterprise’s net assets were valued at over R188 million, while its profit after tax for the six months ended on that date was R5.47 million.<\/p>\n\n\n\n

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Whale Coast Village Mall Images<\/h2>\n\n\n
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Source: Dorpstraat<\/figcaption><\/figure><\/div>\n\n
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Source: Dorpstraat<\/figcaption><\/figure><\/div>\n\n
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Source: Dorpstraat<\/figcaption><\/figure><\/div>\n\n
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Source: Dorpstraat<\/figcaption><\/figure><\/div>\n\n
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Source: Isipani Construction<\/figcaption><\/figure><\/div>\n\n
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Source: Isipani Construction<\/figcaption><\/figure><\/div>\n\n\n
\n","protected":false},"excerpt":{"rendered":"

Hosken Consolidated Investments is selling its majority stake in Whale Coast Village Mall in Hermanus. <\/p>\n","protected":false},"author":95,"featured_media":847382,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[5223,16836,24460,949],"class_list":["post-847380","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-checkers","tag-food-lovers","tag-hosken-consolidated-investments","tag-woolworths"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/847380","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=847380"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/847380\/revisions"}],"predecessor-version":[{"id":847392,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/847380\/revisions\/847392"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/847382"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=847380"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=847380"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=847380"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}