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Comprop acquires 2 prime KZN shopping centres

The Futuregrowth Community Property Fund (Comprop) has acquired King Senzangakhona Shopping Centre and Murchison Mall, bringing its portfolio to 22 shopping centres, with a total gross lettable area of more than 369,000m² valued in excess of R5.4bn.

11 Oct 2021

King Senzangakhona Shopping Centre, Source: Supplied

King Senzangakhona Shopping Centre is a regional shopping centre located in Ulundi, approximately 240 kilometres north of Durban. The 22,373m² centre is anchored by Superspar, Game and Cashbuild, and is situated adjacent to the R66, the main road running through Ulundi.

Murchison Mall is an enclosed shopping centre located in Ladysmith, approximately 238km inland from Durban. The 18,645m² centre is anchored by Shoprite and is situated in the Ladysmith CBD opposite the town’s main taxi rank.

Murchison Mall. Source: Supplied

Smital Rambhai, portfolio manager of the fund said, “We look forward to creating further positive community impact through these new acquisitions, whilst delivering strong stable long-term returns with a low degree of volatility for our investors.”