Fairvest to acquire five retail properties for ZAR477.7m

Fairvest Limited (JSE: FTA) has announced agreements to acquire five retail properties for a total of ZAR477.7 million, yielding 9.81%. The acquisitions include properties in KwaZulu-Natal and the Western Cape, aligning with Fairvest's strategy of investing in retail assets servicing disadvantaged communities near community hubs and transport links. Key acquisitions include three commuter-centric retail properties from Collins Property Group for ZAR208.7 million at a 9.75% yield. Additionally, Fairvest will acquire Manguzi Shopping Centre for ZAR136.0 million (9.75% yield) and Thembalethu Square for ZAR133.0 million (9.97% yield). The Thembalethu Square acquisition is unconditional with transfer expected around July 1, 2025. The Collins and Manguzi acquisitions are expected to be completed around August 1, 2025.