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History
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1988 Lists on JSE on 24 February 1988 with a portfolio comprising Hyde Park Corner, Boksburg Hypermarket and two office buildings with a total asset value of R94 million. |
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2001 Acquires the Kirchmann Hurry office portfolio. Acquires an undivided one-third share in The Glen for R95 million. |
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2002 Acquires Rosebank Mall and adjacent mall offices from Centrecity Property Fund, valued at R320 million. Acquires an additional 16,77% interest in The Glen. |
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2003 Acquires the Grace Hotel and Offices for R32 million. With Ellerine Bros. jointly acquires premier Western Cape shopping centre, Canal Walk, for R1,16 billion. Disposes of eight smaller office blocks to Prima Property Trust. |
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2004 Raises R376 million in a rights off er issuing 9 million units. Acquires an additional 25,05% interest in The Glen, taking Hyprop’s stakeholding to 75,15%. With Redefine Income Fund, jointly develops Southcoast Mall. |
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2005 Acquires 45% of SA Retail Properties. |
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2006 With Vunani Properties, launches Vunani Property Investment Fund, an empowerment property fund. Begins construction of Stoneridge Centre at a development cost of R544 million. |
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2007 Disposes of 46% stake in SA Retail for an amount of R1,135 billion. Acquires approximately 31,3% of Sycom Property Fund for R1,24 billion. |
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2009 Acquires a 70% undivided share in the office park Nedbank Gardens, for future redevelopment of the Rosebank Mall. Acquires Cradock Heights, an office block in Rosebank, to which Hyprop will ultimately move its head office (2012). Southern Sun Hyde Park development completed. |
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2010 Hyde Park refurbished. Successful completion of extensions at Canal Walk and The Glen at a total cost of R479 million. |
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2011 Acquisition of Attfund Retail increasing portfolio to 12 shopping centres and doubling the assets to R20 billion. Disposes of The Grace Hotel. |
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2012 Relocates head office to Cradock Heights in Rosebank. Rosebank Gardens site (formerly Nedbank Gardens) imploded to commence the redevelopment of Rosebank Mall. Disposes of its 50% undivided share in Southcoast Mall to Redefine Properties Limited. Moody’s investor Services rates Hyprop a national scale long-term issuer A3.za and a short-term rating of Prime-2.za. Co-invests with the Atterbury Group in Mauritius based Atterbury Africa, a property investment fund focused on investing in shopping centres on the African continent. Disposes of Southern Sun Hyde Park Hotel to Tsogo Sun. |
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suggestions as to For further detail and information, please visit www.hyprop.co.za |
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