Hyprop sells 50% stake in Woodlands Boulevard
Hyprop sells 50% stake in Woodlands Boulevard for R791 million – Strategic sale aligns with the Group’s long-term priorities
Hyprop, the JSE- and A2X-listed retail-focused REIT that owns and manages dominant centres in South Africa and Eastern Europe, today announced the strategic sale of a 50% undivided share in Woodlands Boulevard for R791 million (escalating from 1 August 2025 until transfer). The transaction will unlock capital to pursue new and organic growth opportunities, reduce its exposure in Gauteng, whilst positioning the Group to benefit from the future upside of Woodlands Boulevard as its surrounding area continues to expand and densify.
Hyprop owns portfolios valued at R42 billion, including premier retail centres such as Rosebank Mall, Somerset Mall, and the only super-regional shopping centre in the Western Cape, Canal Walk, as well as having exposure in Eastern European countries such as Croatia and Bulgaria.
“This transaction supports our prudent approach to capital allocation and portfolio optimisation,” said Hyprop CEO, Morné Wilken. Recycling capital through this strategic sale enables us to invest capital into the Western Cape and Eastern Europe, whilst participating in the future growth of Woodlands Boulevard via our remaining 50% undivided share, and to deliver sustainable, risk-adjusted total returns for our investors.”
The three purchasers of the combined 50% stake, who were also the purchasers of Attebury Value Mart when Hyprop disposed of the asset in 2021, have a proven track record, making them excellent partners for driving the future growth of Woodlands Boulevard.
As part of the transaction, the asset management responsibilities will be jointly overseen by Hyprop and the new co-owners, supporting the long-term success and growth of Woodlands Boulevard. The existing Woodlands Boulevard centre management team will continue in their current roles, providing continuity and expertise and Twin City will oversee the on-site property management team.
Hyprop and the purchasers are committed to ensuring a seamless transition for employees, tenants, shoppers and service providers.
Morne concluded, “Woodlands Boulevard is an excellent asset, located in an affluent and rapidly growing region, supported by robust shopping demand and ongoing investments in new developments. Retaining our majority 50% stake ensures that we remain actively involved in the centre’s promising future and benefit from the upside that is still to come. Hyprop and the new co-owners have already agreed on the first steps towards upgrading the shopping experience at Woodlands Boulevard over the next few months.”
The transaction is subject to bank consent and does not require shareholder approval.

























































