Shoprite Checkers sells big shopping centre

Checkers-owner Shoprite is selling Sandown Retail Crossing to FPG Holdings, which has a national property portfolio.

Sandown Retail Crossing is located on the corner of Wood Drive and Sandown Road in Parklands, Cape Town. The shopping centre opened in 2012 and has a gross leasable area (GLA) of 26,800 m² with 42 stores.

The centre offers a mix of food, affordable fashion, home and décor, and several speciality stores.

Checkers Hyper and House & Home are the anchor tenants in the Sandown Retail Crossing, along with many big-name brands.

Tenants include Auto Pedigree, Burger King, Dial A Bed, KFC, McDonald’s, Nando’s, Postnet, And Remax. The shopping centre is also home to the Sandown Medical Centre, Tiger Wheel & Tyre, Seattle Coffee, and Plumblink.

It has numerous speciality stores, including Urban City Locksmith, The Nail & Beauty Company, SA Biltong Master, and Quench.

On Thursday, the Competition Commission announced that it has recommended that the Tribunal approve Shoprite’s sale of Sandown Retail Crossing to FPG Holdings.

FPG Holdings, the primary acquiring firm, is controlled by FPG Property Fund, which is, in turn, controlled by FPG Investments. FPG Investments controls several firms.

FPG Holdings has a national property portfolio that includes light industrial, office, retail, and residential property developments, as well as property letting enterprises.

The Competition Commission focussed on FPG Holdings’ retail property activities in the Western Cape related to this transaction.

Its retail properties include local convenience centres, minor regional centres, value centres, and neighbourhood centres.

The commission said the proposed transaction is unlikely to substantially lessen or prevent competition in any market.

“The proposed transaction does not raise significant public interest concerns,” the Competition Commission said in a statement. Therefore, the Competition Commission approved the deal without conditions.