{"id":884010,"date":"2026-11-12T13:32:44","date_gmt":"2026-11-12T11:32:44","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=884010"},"modified":"2026-11-12T13:32:47","modified_gmt":"2026-11-12T11:32:47","slug":"major-44200-square-metre-shopping-mall-in-south-africa-selling-for-r630-million","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/property\/884010\/major-44200-square-metre-shopping-mall-in-south-africa-selling-for-r630-million\/","title":{"rendered":"Major 44,200 square metre shopping mall in South Africa selling for R630 million"},"content":{"rendered":"\n

The Competition Commission has approved the proposed sale of Cedar Square in Fourways to property group Aristonas.<\/p>\n\n\n\n

Cedar Square is a significant retail centre in Fourways, with approximately 44,249 square metres of gross lettable space.<\/p>\n\n\n\n

It includes both retail and office space components.<\/p>\n\n\n\n

Accelerate Property Fund announced the sale in September, noting that it was disposing of the mall as a going concern for an aggregate purchase consideration of R630 million.<\/p>\n\n\n\n

Accelerate said that the disposal forms part of its ongoing strategic repositioning and restructuring programme.<\/p>\n\n\n\n

The group intends to apply the proceeds of the disposal to reducing debt.<\/p>\n\n\n\n

Aristonas is active in the holding and letting of retail, commercial, and residential property in Gauteng, KwaZulu-Natal, and the Western Cape. <\/p>\n\n\n\n

Relevant to the Competition Commission’s assessment of the transaction, it flagged the group\u2019s retail properties in Gauteng.<\/p>\n\n\n\n

These include six neighbourhood centres and two community centres located in Johannesburg and Pretoria.<\/p>\n\n\n\n

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

The proposed transaction also does not raise significant public interest concerns, it said.<\/p>\n\n\n\n

While the path is now clearer for Aristonas to acquire Cedar Square and its related income stream and available bulk, it will not acquire the right to develop the bulk.<\/p>\n\n\n\n

The right to develop the available bulk of 40,447 square metres will be retained by Accelerate by means of a Notarial Deed of Servitude registered in favour of the group, it said.<\/p>\n\n\n\n

Should Aristonas wish to develop the bulk, it will be entitled to purchase the Development Rights by giving written notice to Accelerate.<\/p>\n\n\n\n

The valuation of the bulk is R169 million, the group noted.<\/p>\n\n\n\n

Following the disposal, Fourways Mall will remain the last major retail centre in Accelerate’s portfolio.<\/p>\n\n\n\n

Images of Cedar Square<\/h2>\n\n\n\n
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The Competition Commission has approved the proposed sale of Cedar Square in Fourways to property group Aristonas.<\/p>\n","protected":false},"author":10,"featured_media":875676,"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":"2120843558726889949","_sma_facebook_post_id":"191437357620492_2270533397100392","_sma_instagram_post_id":"18097049948262879","_sma_x_attempts":1,"footnotes":""},"categories":[12755],"tags":[19940,26529],"class_list":["post-884010","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-property","tag-accelerate-property-fund","tag-cedar-square"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/884010","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=884010"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/884010\/revisions"}],"predecessor-version":[{"id":884015,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/884010\/revisions\/884015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/875676"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=884010"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=884010"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=884010"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}