Gå ubegrenset med Magzter GOLD
Få ubegrenset tilgang til over 9000 magasiner, aviser og premiumhistorier for bare
Prøve GULL - Gratis
Efforts to save mall
The Citizen
|January 08, 2025
DEBT: ACCELERATE UNDER PRESSURE AS IT SELLS MANY OF ITS ASSETS
-
Accelerate Property Fund, the co-owner of Fourways Mall in Johannesburg, is negotiating the sale of a further five properties as it battles to turn around the centre and pay down debt.
These include the iconic Portside Tower in Cape Town, the tallest building in the city. The building was developed by FirstRand Bank and Old Mutual, and the banking group (primarily FNB) remains the largest tenant.
Accelerate acquired a roughly 50% stake in 2016, with the then-chief operating officer Andrew Costa saying "we remain a fund that has a focus on retail assets but we take up good opportunities like Portside when they arise".
Accelerate values Portside Tower at just over R600 million. It quietly announced its intention to sell these assets in its interim results for the six months to 30 September, published the day before Christmas Eve.
On the chopping block
Denne historien er fra January 08, 2025-utgaven av The Citizen.
Abonner på Magzter GOLD for å få tilgang til tusenvis av kuraterte premiumhistorier og over 9000 magasiner og aviser.
Allerede abonnent? Logg på
FLERE HISTORIER FRA The Citizen
The Citizen
Boy's killer faces new trial
US prosecutors asked a judge on Tuesday to retry the main suspect in the infamous New York kidnap and murder of a six-year-old boy 46 years ago.
1 min
November 27, 2025
The Citizen
SA weighs 20% tax on online gambling
South Africa is considering imposing a 20% tax on online gambling to curb its rapid growth and address related social harms.
1 min
November 27, 2025
The Citizen
R6m reasons to hit jackpot
OPPORTUNITIES: SUMMER CUP A BETTOR'S DREAM
1 mins
November 27, 2025
The Citizen
Pension fund collapse exposes national rot
Incompetence and interference erode workers' futures. SA needs brains, not decay, writes Ivan.
1 min
November 27, 2025
The Citizen
We deserve more Tests
After an incredible two-Test shellacking of India on their home turf, surely the Proteas Test team deserve to be respected - and rewarded?
1 mins
November 27, 2025
The Citizen
Victory over India was team effort
It takes a special bunch of players to beat India in their backyard in Test cricket.
1 mins
November 27, 2025
The Citizen
Better life derailed by looting
There has been an explosion on the looting express.
1 mins
November 27, 2025
The Citizen
Trump turns turkey pardon into political roast
Donald Trump turned Washington’s fluffiest tradition into something a little tougher to carve on Tuesday - swapping holiday cheer for political score-settling as he pardoned two turkeys in the annual White House Thanksgiving ceremony.
2 mins
November 27, 2025
The Citizen
Tshituka: Sharks in ‘a good space’
Despite their coaching shakeup, poor form and Springbok duties, Sharks captain Vincent Tshituka said the team is “in a good space” mentally and preparation-wise ahead of Saturday night's clash with Connacht.
1 mins
November 27, 2025
The Citizen
Preparing for combat
Taiwanese President Lai Ching-te said yesterday his government will propose $40 billion (about R686 billion) in additional defence spending over eight years, as the democratic island seeks to deter a potential Chinese invasion.
1 min
November 27, 2025
Listen
Translate
Change font size