Vukile and Flanagan & Gerard take ownership of BT Ngebs City in R800 million deal

BT Ngebs City in Mthatha, Eastern Cape, has transferred into the skilled hands of its new retail property specialist co-owners, Vukile Property Fund and Flanagan & Gerard Property Group. The process for the R800 million acquisition began in 2022 and has now been finalised, with each owner holding an equal share in this regional shopping centre.

The transfer also signals the green light to commence with major refurbishment plans to
bring the mall in line with the high standards of the new owners, while improving the overall
retail experience for customers from this community and its surrounds.

The redevelopment of the regional mall will bring significant improvement in its dynamics,
flows and synergy with the neighbouring Mayfair Hotel and Casino. The introduction of
escalators connecting the basement carpark directly to the retail level will streamline flow
and interaction, create ease of access and shopping convenience. Mall lobbies will be
introduced to the basement parking level, connecting the new escalators to key tenants on
the retail level above. Tenant signage will be vastly improved giving customers a sense of
direction and comfort with the mall layout. Major upgrades are planned for the main mall
entrance, bringing theatrical elements and a vibrant atmosphere to strengthen the
connection with the adjacent Casino and Mayfair Hotel. The combination of new owner-
operated restaurants, thoughtful landscaping, and an enhanced overall vibe will contribute to
the revitalization of this precinct, offering a more engaging and appealing experience for
visitors from the region.

The mall’s retail mix will also be energised, bringing new retailers to the centre. Additional
retailers focusing on first order goods will be introduced in conjunction with an additional
pharmacy. This will bolster the current tenant mix which includes the likes of Pick n Pay,
Checkers, Woolworths and Clicks. In addition, its popular selection of fashion brands,
including Truworths, Foschini, Edgars, Mr Price, Ackermans, Refinery, Archive, Timberland,
Fabiani, G-Star Raw, Spitz, Soviet and Bogart Man will be expanded with an even wider
array of offerings. Both Queenspark and Pick n Pay Clothing have recently joined BT Ngebs

Paul Gerard, MD at Flanagan & Gerard, comments, “BT Ngebs City has all the
ingredients to be an exceptional retail asset in our portfolio. Its great location, access and
visibility make it a popular shopping destination. We are excited to work with Vukile to unlock
the mall’s potential and performance and offer shoppers a wider choice of attractive retail.”

Itumeleng Mothibeli, MD SA at Vukile, remarks, “BT Ngebs City serves a crucial customer
base within the South African retail sector and expands our existing investment in high-
performing township and rural malls. It is an asset with excellent potential. Vukile’s
investment and active asset management, together with that of Flanagan & Gerard, will
continue the positive social and economic influence of BT Ngebs City for customers and
communities in Mthatha and the region.”

Vukile and Flanagan & Gerard have collaborated on various award-winning retail property
initiatives, and they are now joint owners of three property assets. Their other co-owned
assets include Thavhani Mall in Thohoyandou, Limpopo, and Springs Mall in Ekurhuleni,