By Kaya 959 Reporter
The Moolman group and a private consortium of investors have forked out R100 million for the Meadowdale Value Shopping Centre in Germiston.
Experts say such sales show investor confidence in the local market.
Business Development Executive for Aucor Property, Warren Aronson, said it is encouraging to see that this trend continues despite the challenges over the past 18 months.
“In fact, it is worth noting that the sale of this property achieved a price that was in excess of the current book value, which is a further indication of the strategic value that the property holds,” he says.
The sale comes just weeks after four Johannesburg CBD properties went for around R115m.
Aronson says the 18 000m2 landmark centre is situated in the strong value retail hub of Meadowdale, which attracts thousands of shoppers weekly.
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The Meadowdale Value Shopping Centre is neighboured by Builder’s Warehouse and the recently revamped Meadowdale Mall which is anchored by Checkers Hyper and Cashbuild.
Aronson says Frontline Hyper is set to be the anchor tenant in the centre, and this will be a key driver of the redevelopment strategy the buyers have for the property.
He says not only will this help to revive the centre but will create new jobs and attract further investment to the area, therefore perpetuating a positive growth cycle in the local market economy.
Aronson says ultimately, it becomes more than just a property transaction but rather a consultative and strategic process aimed at driving growth and development of the area as a whole.



