Pick n Pay, one of South Africas leading retailers and partly owned by the Ackerman family, will close its Fourways store as part of a wider reshaping of its retail and property operations.
The decision follows Accelerate Property Funds recent sale of the Buzz Shopping Centre and Waterford Centre in Fourways, Gauteng, for a total of R215 million 12.2 million. The moves reflect the growing pressures on South Africas retail and commercial property sectors, where tenant performance and financial realities increasingly shape strategic decisions.
Accelerate sells malls as Pick n Pay weighs exit