The Futuregrowth Community Property Fund (“Comprop”) has acquired KG Mall, which brings the Comprop portfolio to 23 shopping centres, with a total gross lettable area of more than 392 000m2 valued in excess of R6.6 billion.
KG Mall is a quality shopping centre situated at the entrance to the Kwa-Guqa township in Emalahleni, which is approximately 95kms east of Pretoria in Gauteng. The 21 483m2 shopping centre consists of a single-storey main internal mall with a central Shoprite anchor, as well as a number of line shops and a Cashbuild that trade onto an expansive parking area which includes a KFC and a McDonald’s drive-thru.
KG Mall is easily accessible via Mathews Phosa Street, which is located off the N4 and via the main Kwa-Guqa taxi rank. A pedestrian crossing allows for easy access for customers on foot from the taxi rank and the neighbouring community.
Smital Rambhai, the Fund Manager of Comprop said: “The acquisition of KG Mall fits in with our long-term strategy of acquiring dominant quality shopping centres with strong national tenants that will have strong sustainable income growth over the long term for our investors.”
Comprop is a flagship fund among Futuregrowth Asset Management’s suite of developmental investments. All Comprop’s shopping centres are situated in prime locations within townships and rural areas around the country.
