Accelerate sells Leaping Frog centre in Fourways for R130m
The shopping centre will be sold at a 7.1% discount, with Accelerate citing redevelopment costs and a desire to reduce its debt pile
07 April 2022 - 17:11
Accelerate Property Fund has agreed to sell its noncore shopping centre in Gauteng, which is opposite its flagship Fourways Mall, for R130m, to reduce debt.
Accelerate will sell Leaping Frog at a 7.1% discount to its book value, with the company saying on Thursday that while the centre had “performed adequately” over the years, it now required redevelopment to maintain value and compete with new centres in the Fourways area...
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