FOURWAYS RELAUNCH
Fund bets on super mall to Accelerate confidence
Accelerate Property Fund is banking on the relaunch of the Fourways Mall in 2018 to boost confidence in the company and its shares. Accelerate, which wants to dominate the Fourways node, has redeveloped the mall — set to open in the last quarter — into Africa’s largest shopping centre. "Fourways Mall is expected to be approximately 200,000m² of gross lettable area upon completion and the positive impact of this super-regional centre on the Fourways node and the fund cannot be overstated. "The development remains the key priority of the fund and management," said chief operating officer Andrew Costa. Accelerate’s return was a negative 19.01% in 2017. Sentiment in the company was dulled by general negativity around the prospects of developers in SA. This was while the sector’s average return for 2017 was 16.18%, said Garreth Elston of Golden Section Capital. But the group, which listed at the end of 2013, has been rolling out an ambitious plan to turn Fourways Mall into an attractive ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.