Asset management company Futuregrowth recently bought the newly developed Sam Nthuli Mall in Gauteng’s vibrant Katlehong township, boosting its assets to more than R7bn.
Acquired by Futuregrowth’s Community Property Fund (Comprop), the Sam Ntuli Mall increases its portfolio to 24 shopping centres, with a total
gross lettable area of more than 420,000m², valued in excess of R7.3bn. This makes it one of the biggest specialist property funds in South Africa.
The 30,276m² shopping centre is anchored by Shoprite, Pick ‘n Pay, Boxer and Cashbuild with an internal mall as well as shops trading directly onto an expansive parking area that includes several drive-thru offerings.
The mall is centrally located and is easily accessible via Tugela and Masakhane Streets. It has excellent commuter access with an on-site taxi rank servicing local routes. The main taxi rank is less than 1km away, providing transport to and from Johannesburg.
There is extensive customer parking available and a pedestrian crossing allows for easy onfoot access to and from the neighbouring community.
“The acquisition of Sam Ntuli Mall falls in line with our longterm strategy of investing in high quality retail shopping centres across South Africa that are underpinned by strong income growth potential for our investors.But also to service the low to middle income households by delivering first-rate goods and services at affordable prices,” says fund manager of Comprop Smital Rambhai.
Comprop is a flagship fund in Futuregrowth Asset Management’s suite of developmental investments and has been in existence for more than 25 years.
All Comprop’s shopping centres are located in prime locations in townships and rural areas around the country.
Capital Land Asset Management is the appointed property and asset manager to Comprop.
Capital Land is a leading investment property boutique involved in the asset and property management of institutional and private commercial property portfolios in South Africa.
