Specialist retail real estate investment trust Vukile Property Fund has bought the Pan Africa Shopping Centre located in the Alexandra township of Johannesburg for the price tag of R669 million, a move it says will strengthen its investment ties in the country. The JSE-listed property company will be acquiring the shopping centre from current owners the Pan Africa Development Company – which is partly owned by Atterbury Property, Talis Holdings and Summit Ridge Trading 5.
“In early 2022, we successfully restarted our growth in Spain, and now we are particularly pleased to resume the growth of our South African portfolio with this major investment in Pan Africa Shopping Centre,” adds Rapp. “By acquiring this asset and its future extension, we are deepening our core investment strategy in South Africa and adding value for our stakeholders.
VukilePropFund Property valuations are bizarre this commercial property relative to the properties in close proximity are galaxies apart.