How are SA shopping malls valuated?
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GUEST - Paul Gerard, Managing Director at Flanagan & Gerard
JSE-listed property group Burstone has concluded a R380 million transfer deal for The Neighbourhood Square shopping centre in Linksfield. Along with co-owners Flanagan & Gerard, Burstone will take over 50% ownership of the centre.
The R380 million acquisition process began when Burstone Group exercised its first right of offer over Investec’s property. This followed the management internalisation process that saw the transition of Investec Property Fund into the Burstone Group in 2023.
JSE-listed property group Burstone has concluded a R380 million transfer deal for The Neighbourhood Square shopping centre in Linksfield. Along with co-owners Flanagan & Gerard, Burstone will take over 50% ownership of the centre.
The R380 million acquisition process began when Burstone Group exercised its first right of offer over Investec’s property. This followed the management internalisation process that saw the transition of Investec Property Fund into the Burstone Group in 2023.