SOUTH AFRICAN FUND HYSTEAD ACQUIRES ‘THE MALL’
South African fund Hystead has successfully acquired The Mall, one of the largest shopping centres in Bulgaria, located in the capital city Sofia. The acquisition, upwards of €156 million, represents the fourth investment in the region by Hystead Limited, a joint venture between Hyprop Investments and Homestead Limited, who previously acquired the Delta City shopping centres in Podgorica and Belgrade alongside Skopje City Mall in Macedonia at the end of 2016, according to JLL.
Situated on Tsarigradsko Shosse, the main boulevard linking the centre of the city with a number of large residential neighbourhoods, the airport and the regional highway network, The Mall was developed in 2010 and extends to over 52,000sq metres. It is anchored by Inditex Group, P&C, H&M and Arena cinema and benefits from over 130,000 sq.mt. of offices in its immediate proximity. Given its prime location, prestige tenant mix and occupancy standing at 99 percent, The Mall is considered to be the premier shopping destination in the city.