{"id":863608,"date":"2026-06-15T12:00:00","date_gmt":"2026-06-15T10:00:00","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=863608"},"modified":"2026-06-15T11:45:31","modified_gmt":"2026-06-15T09:45:31","slug":"popular-mall-sold-for-r943-million-in-south-african-neighbourhood-named-one-of-the-coolest-in-the-world","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/863608\/popular-mall-sold-for-r943-million-in-south-african-neighbourhood-named-one-of-the-coolest-in-the-world\/","title":{"rendered":"Popular mall sold for R943 million in South African neighbourhood named one of the coolest in the world"},"content":{"rendered":"\n

The popular The Point Mall in Sea Point, Cape Town, is being sold in a R943 million deal, with the move receiving competition tribunal approval. <\/p>\n\n\n\n

The deal will see the rental enterprise sold from Permasolve Investments (HCI), which is 70.59% owned by JSE-listed Hosken Consolidated Investments (HCI), to Future Indefinite Investments 180. <\/p>\n\n\n\n

Future Indefinite will take full control over the mall. The company is a property investment group with interests in restaurants, office, hospitality, residential and industrial warehouses.<\/p>\n\n\n\n

The Point Mall is a mixed-use property located in Sea Point, comprising retail space and A-grade office accommodation. Tenants include Checkers, Clicks, Kauai, Bootlegger and more. <\/p>\n\n\n\n

Sea Point is renowned for its high-street shopping, promenade, hipster-friendly boutiques and a cosmopolitan corner of the city. <\/p>\n\n\n\n

It was named as one of the coolest neighbourhoods in the world by TimeOut magazine. <\/a><\/p>\n\n\n\n

The deal, which was announced in December 2025, formed part of HCI’s intention to dispose of certain of its real estate assets. <\/p>\n\n\n\n

The group said that the sale would achieve a substantial return on HCI’s investment, generate significant cash flow, and reduce group debt. <\/p>\n\n\n\n

The R943 million consideration will be used to settle portions of HCI’s group debt and preference share funding obligations, subject to Permasolve settling its borrowings and tax obligations.<\/p>\n\n\n\n

In December, HCI said the property transfer was expected in the second quarter of 2026. The deal also required approval from the competition authority by 30 June 2026, which has been received.<\/p>\n\n\n\n

As of 30 September 2025, the net assets attributable to the rental enterprise were R188,278,735. <\/p>\n\n\n\n

Profits after tax attributable to the mall for the six months ended 30 September 2025 were R5,474,077. With the deal being a category 2 transaction, no shareholder approval is required for the sale. <\/p>\n\n\n\n

This is not the only major sale for HCI, as the group also announced the sale of its 65% stake in Whale Coast Village Mall in Hermanus for R600 million. <\/p>\n\n\n\n

Whale Coast Village Mall<\/a>, which has 96 stores, is a premier shopping destination situated southeast of Cape Town.<\/p>\n\n\n\n

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Photos of The Point Mall<\/h2>\n\n\n
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The Point Mall in Sea Point is being sold in a R943 million deal, with Hosken Consolidated Investments looking to reduce its debt. <\/p>\n","protected":false},"author":95,"featured_media":863619,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12755],"tags":[1520,25595,25593],"class_list":["post-863608","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-competition-tribunal","tag-future-indefinite-investments","tag-hosken"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/863608","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=863608"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/863608\/revisions"}],"predecessor-version":[{"id":863632,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/863608\/revisions\/863632"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/863619"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=863608"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=863608"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=863608"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}