{"id":850278,"date":"2026-02-09T11:14:21","date_gmt":"2026-02-09T09:14:21","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=850278"},"modified":"2026-02-09T11:14:26","modified_gmt":"2026-02-09T09:14:26","slug":"major-pretoria-mall-in-r750-million-sale","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/850278\/major-pretoria-mall-in-r750-million-sale\/","title":{"rendered":"Major Pretoria mall in R750 million sale"},"content":{"rendered":"\n

Hyprop has reached separate deals to sell a 50% stake in Woodlands Boulevard with Primegrowth Retail Property, Witfontein Mile and Twin City Trading 2 for R750 million.<\/p>\n\n\n\n

Hyprop said that it reviews its portfolios annually to identify opportunities to recycle capital\/assets in pursuit of its strategy. <\/p>\n\n\n\n

The sale of the 73,000 sqm Woodlands Boulevard in Pretoria allows the JSE-listed REIT to reduce its exposure in Gauteng.<\/p>\n\n\n\n

It will also unlock capital in new growth opportunities, while allowing it to remain the owner of a majority (50%) undivided share in the property. <\/p>\n\n\n\n

This majority share allows it to participate in the future upside as the residential area surrounding the property expands and densifies. <\/p>\n\n\n\n

It added that the purchasers already have a proven track record of executing transactions, especially as the buyers of Atterbury Value Mart from Hyprop in 2021. <\/p>\n\n\n\n

“This experience, together with their asset management credentials, underpin Hyprop\u2019s decision to partner with the Purchasers to realise further value from the property,” said Hyprop. <\/p>\n\n\n\n

Hyprop has no plans to dispose of the remaining 50% undivided share.<\/p>\n\n\n\n

The proceeds from the transaction are being deployed by Hyprop to pursue new investment opportunities aligned with its strategic growth objectives and capital allocation strategy.<\/p>\n\n\n\n

Terms of the deal <\/h2>\n\n\n\n
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The aggregate consideration payable by the purchasers for the 50% undivided share in the property and rental enterprise is R790.5 million. <\/p>\n\n\n\n

The value is escalating at 0.53% per month from 1 August 2025 to the Transfer Date. Each purchaser will acquire a 1\/6th undivided share in the property and the rental enterprise. <\/p>\n\n\n\n

The purchase price will be paid to the company in cash on the date of the registration of the transfer of the proportionate share of the 50% undivided share.<\/p>\n\n\n\n

Hyprop has also given the purchasers a rental guarantee, which protects them against unbudgeted negative rent reversions and unbudgeted vacancies for 2 years from the Transfer Date.<\/p>\n\n\n\n

Any rent collected which exceeds the budgeted rent during the Rental Guarantee Period will be for the benefit of Hyprop.<\/p>\n\n\n\n

Hyprop’s liability is capped at R10 million for the first year after the first date and at R10.6 million for the second half of the period. <\/p>\n\n\n\n

Hyprop will have the right to terminate the sale agreements if the documents necessary for transfer have not been lodged by the transferring attorneys with the relevant deeds registry office by 30 April 2026. <\/p>\n\n\n\n

Following the implementation, Hyprop and the prucahses will become co-owners of the rental enterprise. A co-ownership agreement governs the respective rights and obligations of the co-owners. <\/p>\n\n\n\n

The value of the net assets and the profits attributable to the net assets of 100% of the Rental Enterprise are R1.7 billion and R166 million, respectively.<\/p>\n\n\n\n

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Woodlands Boulevard Images<\/h2>\n\n\n
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Hyprop is selling 50% of Woodlands Boulevard, as it cuts back its exposure to Gauteng. <\/p>\n","protected":false},"author":95,"featured_media":850279,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[15005],"class_list":["post-850278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-hyprop"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/850278","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=850278"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/850278\/revisions"}],"predecessor-version":[{"id":850297,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/850278\/revisions\/850297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/850279"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=850278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=850278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=850278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}