Investor snaps up important shopping mall for miners in South Africa’s richest province

Community Property Company (CPC) has received the green light from South Africa’s competition authorities to acquire Umphakathi Mall in Gauteng.

Umphakathi Mall is a community shopping centre located off Main Reef Road, also known as the R28, between Mohlakeng and Toekomsrus.

The centre’s website states that most of the residents in the area work at the surrounding mines.

On Friday, 25 September, the Competition Commission announced it had given the green light to the sale of Umphakathi Mall.

The Commission recommended that the Competition Tribunal approve the proposed transaction whereby CPC intends to acquire Umphakathi Mall from Ragnarak, without conditions.

“The Commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in any market,” it said. 

“The proposed transaction does not raise significant public interest concerns.”

The primary acquiring firm, CPC, is wholly owned and controlled by Community Property Holdings.

CPC is a property-holding and investment company that specialises in acquiring new and existing shopping centres.

These centres often cater to the needs of underserved communities throughout South Africa, with CPC investing in retail properties in both township and rural locations throughout the country.

Umphakathi Mall fits well within this portfolio, having opened its doors on 28 April 2021 to the surrounding communities of Mohlakeng and Toekomsrus.

The shopping centre is small, spanning 14,000 m² and boasting 45 retailers, including a Boxer, Pick n Pay, Ackermans, Capitec, and Cashbuild.

It offers 250 parking bays and a dedicated taxi rank right next to the mall.

Umphakathi Mall photos