{"id":878970,"date":"2026-10-09T09:02:29","date_gmt":"2026-10-09T07:02:29","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=878970"},"modified":"2026-10-09T10:19:10","modified_gmt":"2026-10-09T08:19:10","slug":"oldest-shopping-mall-in-south-africa-being-sold","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/878970\/oldest-shopping-mall-in-south-africa-being-sold\/","title":{"rendered":"Iconic 65-year-old shopping mall in South Africa being sold"},"content":{"rendered":"\n

The Competition Commission has conditionally approved the sale of Killarney Mall in Johannesburg to AJPG Property.<\/p>\n\n\n\n

Earlier this year, Killarney Mall’s owner, Octodec, reached an agreement to sell the mall for R397.5 million.<\/p>\n\n\n\n

Octodec Investments is a real estate investment trust that owns other popular malls in Gauteng, including Woodmead Value Mart, The Park, and Waverley Plaza.<\/p>\n\n\n\n

Octodec agreed to sell 100% of its shares and claims in Killarney Mall to AJPG Property 1 Proprietary Limited.<\/p>\n\n\n\n

If the sale is completed successfully, the mall will be owned by the property investment vehicle of the AJP Group, which owns 15 other retail properties.<\/p>\n\n\n\n

AJP’s portfolio includes malls located mostly in Gauteng, including Steeledale Mall, Glen Balad Mall, Elgin Mall, and Kempton Gate Mall.<\/p>\n\n\n\n

AJP Group will acquire the entire mall, which includes retail space, A-grade office space, and a fuel service station. <\/p>\n\n\n\n

The Competition Commission approved the transaction and said that it is unlikely to significantly reduce or prevent competition in any market. <\/p>\n\n\n\n

However, to address public interest concerns, the parties involved in the merger will be required to establish a dedicated empowerment fund. <\/p>\n\n\n\n

The Commission also said that the new owners must support businesses owned by historically disadvantaged individuals, enabling them to establish and operate retail trading businesses.<\/p>\n\n\n\n

Killarney Mall is the first mall-type shopping centre in South Africa, built 65 years ago in 1961, in the prestigious suburbs of Houghton, Westcliff, and The Parks.<\/p>\n\n\n\n

Before becoming a retail centre, the property on which the mall stands was home to the Killarney Film Studios, which was established in 1916.<\/p>\n\n\n\n

In the mid 1960s, a small portion of the studio was redeveloped into a small open-air shopping mall, which became the first mall type shopping centre in the whole of Africa.<\/p>\n\n\n\n

Originally, the Killarney Centre contained three levels, with retail stores, sidewalk cafes and leased office spaces.<\/p>\n\n\n\n

The mall went through several refurbishments and upgrades over the years, expanding its offering and increasing its capacity.<\/p>\n\n\n\n

By 1972, after a R12 million renovation was complete, the mall encompassed around 150,700 leasable square feet and a car park that could hold around 1,000 cars.<\/p>\n\n\n\n

In 2001, Killarney Properties sold the mall to Octodec and Gold Eagle Properties, and 25 years later Octodec has handed over the mall to AJPG.<\/p>\n\n\n\n

The mall now hosts popular retailer stores such as Pick n Pay, Woolworths, Ackermans, Clicks, Dis-Chem, Mr Price, and PNA.<\/p>\n\n\n\n

Photos of Killarney Mall<\/h2>\n\n\n\n
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The sale of Killarney Shopping Mall in Johannesburg has been approved by the Competition Commission.<\/p>\n","protected":false},"author":127,"featured_media":851952,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"posted","_sma_x_autopost_error":"","_sma_x_post_id":"2108453176881938895","_sma_facebook_post_id":"191437357620492_2231228571030875","_sma_instagram_post_id":"18160106431499348","_sma_x_attempts":1,"footnotes":""},"categories":[9880],"tags":[26749,24842,18065],"class_list":["post-878970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-ajpg-property","tag-killarney-mall","tag-octodec"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/878970","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\/127"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=878970"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/878970\/revisions"}],"predecessor-version":[{"id":879096,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/878970\/revisions\/879096"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/851952"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=878970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=878970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=878970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}