THE SA Corporate Real Estate has confirmed that The Bluff Towers shopping centre has been sold, and the sale is expected to go through in the coming months.

According to media reports, the mall was sold to Tinos Consulting and Advisory Proprietary Limited for close to R550m.

The news has stirred interest and concerns among residents of The Bluff as some claim that the company to which the mall is being sold has been deregistered. However, this has not been confirmed by SA Corporate Real Estate.

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Asset manager for retail property at SA Corporate Real Estate, Mark Mac Kaiser, said the management will be able to provide more information and answer other questions once approval has been obtained from the Competitions Commission of South Africa for the transaction.

“The purchaser of Bluff Towers is a large property landlord with extensive shopping centre assets whose interest for the property is supported by a commitment to its tenants and customers. Further communication in this regard will only be able to be made once the transaction is approved by the competition authorities,” said Kaiser.

The mall is located on 319 Tara Road and is one of the busiest shopping centres in eThekwini Municipality. There are more than 30 shops currently operating in the mall.

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