Hyprop dispose 50% interest in Southcoast Mall

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Retail-focused property company Hyprop Investments is selling its 50% interest in Southcoast Mall to Redefine Properties for R108,5m.

Retail-focused property group Hyprop Investments (HYP) said on Monday it would sell its 50% share in Southcoast Mall to Redefine Properties (RDF) for R108.5 million.

The transaction, which is still subject to conditions precedent, forms part of Hyprop's strategy to focus on its core portfolio of premium, sizeable shopping centres.

Redefine already owns the other 50% of the mall.

Hyprop gained 40c, or 0,7%, to R57,90 while Redefine lost 1c, or 0,12%, to R8,10 yesterday.

 

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Retail Property  |  Hyprop Investments  |  Shopping Malls in South Africa
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