Property

Investor snaps up shopping mall in one of South Africa’s worst-run municipalities

Bianke Neethling • 18 September 2026

The Competition Commission has approved the sale of Northridge Mall in Bloemfontein to Cape Town 101 Investments.

Northridge Mall spans 29 510 m² and is located along the R700 / Kenneth Kaunda Road on the northern fringe of Bloemfontein.

On Thursday, 17 September, the Competition Commission announced that it had unconditionally approved the mall’s acquisition.

The acquiring firm is Cape Town 101 Investments, a property investment firm that also provides rentable retail space in the Free State.

Northridge Mall was expanded by the Moolman Group and PHG Group in April 2019.

On its website, Moolman Group said it partnered with PHG to bring residents of Northern Bloemfontein an extended and varied retail experience.

“This is a polished neighbourhood centre with a comprehensive convenience offering of all the favourites,” it said.

The mall boasts 86 stores, including major anchor tenants such as Pick n Pay, Woolworths, Dis-Chem, and Clicks. It also boasts a state-of-the-art free-standing Virgin Active gym.

Northridge Mall also boasts several well-known restaurants and eateries, such as Salsa, Wimpy, Mugg & Bean, Milky Lane, and Panarotti’s.

It is also home to many speciality stores, including Freedom of Movement, Le Creuset, Volpes, YuppieChef, and Carrol Boyes.

Moolman Group explained that Northridge’s location connects the which connects the northern suburbs and the city of Bloemfontein to the N1 freeway.

Bloemfontein forms part of Mangaung Metropolitan Municipality, which has come under increased scrutiny in recent years for financial mismanagement and poor service delivery.

The Minister of Cooperative Governance and Traditional Affairs (CoGTA), Velenkosini Hlabisa, recently identified Manguang as one of 38 municipalities classified as financially distressed or dysfunctional.

The Free State government placed Manguang under provincial administration in 2019 due to a complete collapse of its financial health and service delivery.

However, this provincial intervention proved unsuccessful, and three years later, the national government was forced to step in.

In 2022, the government instituted a mandatory national intervention to take direct control of the municipality’s operations.

Most recently, in 2026, President Cyril Ramaphosa authorised the Special Investigating Unit to investigate serious maladministration and corruption at Manguang.