Collins Property Group sells three shopping centres to Fairvest

Collins Property Group (JSE:CPP) announced the disposal of three letting enterprises, Nquthu Shopping Centre, Ezulwini Royal Shopping Centre, and Eyethu Junction Shopping Centre, to Fairvest Limited, a JSE-listed REIT. The transactions, collectively valued at ZAR208.7 million, involve the sale of Nquthu and Ulundi for a combined ZAR105.5 million and Eyethu for ZAR103.2 million. The disposals align with Collins' strategy to recycle capital, with the net proceeds earmarked for investments in the Netherlands. Transfer of the properties is subject to customary conditions precedent, including regulatory approvals and Fairvest securing funding. The transactions are categorized as Category 2 in terms of the JSE Listings Requirements.