Municipal Worker Pension Fund Has Acquired Nicolway Centre In Bryanston
Municipal Worker Pension Fund Has Acquired Nicolway Centre In Bryanston. It has been reported that that Akani Properties has bought Nicolway Centre in Bryanston for R1.1 million on behalf of the Municipal Worker Pension Fund.
The sale also includes the Decathlon retail component (a sports hub concept located in the Nicolway precinct) and a office building known as Nicolway West. The mall features easy, direct access off William Nicol Drive onto two shopping levels. Nicolway Bryanston offers its shoppers over 86 impressive stores which includes a strong health and beauty offering, home/decor, and banking services.
“The acquisition includes all rights in the leases of all properties and all other assets necessary for the carrying out of the business enterprise. The shopping centre is well located in terms of access and visibility on [William Nicol Drive] in the heart of Bryanston and it’s strategically located in a LSM [high living standards measure] area surrounded by the Bryanston commercial node,” Akani said in a statement.
Akani is a 100% black owned, managed and controlled company that was founded in 2005, Akani Properties aims to be one of Africa’s leading commercial property services companies with offices in major cities and towns in South Africa. It is able to offer unrivaled local expertise and global market knowledge with the sole purpose of maximising the potential of its client’s property.
This is a good investment for the municipal workers pension fund as it is buying property in an area that has a lot of value and has potential for business growth. This will increase the value of the property as the years goes by. Bryanston is an affluent residential suburb of Sandton, South Africa. Sandton has been one of the most valuable cities in the country and making an investment in such an area will yield positive returns for Akani Properties and the Municipal Worker Pension Fund.
