Changing Tides 91, a company linked to Flanagan & Gerard Property Development, has bought the remaining half of Morningside Shopping Centre that it does not already own.
Flanagan & Gerard have a strong relationship with the centre, with their offices found within the centre itself.
Morningside Shopping Centre is a bespoke community centre situated in Morningside, Sandton – the richest square mile in Africa.
The centre features over 60 stores that have been carefully selected for their unique offerings, high-quality products, and personalised services.
Flanagan & Gerard say that shoppers can enjoy an exciting mix of high-end fashion, a variety of fine dining, and an extensive range of exclusive shops at the centre.
The centre offers a range of services, including gifting, jewellery, pharmaceuticals, tailoring, dry cleaning, printing, medical suites, and car wash services.
The original shopping centre at the site had existed for over four decades before undergoing a massive redevelopment.
In early 2008, the site was acquired by Flanagan & Gerard Property Development and investment company Grapnel Property Group.
The centre was then redeveloped, with a new and improved site officially opening in June 2009.
Flanagan & Gerard said that the centre now boasts discerning shoppers of the highest socio-economic profiles in greater Johannesburg.
The centre benefits from the high growth and surrounding office expansion and residential developments in the area.
The centre is also conveniently located near the French School, Grayston Prep, Crawford College, Redhill School, Rivonia Primary School, and King David School.
The centre aims to provide convenience to the residents of Morningside, Bryanston, Rivonia, Duxberry, River Club and Gallo Manor.
The mall is now set for a new era after the Competition Commission approved Changing Tides 91 (CT91) acquiring the remaning 50% it does not already own.
The commission recommended that the Tribunal approve the proposed transaction, which will give CT91 sole control over the property following the merger.
The commission is of the view that the proposed transaction is unlikely to substantially lessen or prevent competition in the market.
The proposed transaction also does not raise any public interest concerns.
Images of Morningside Shopping Centre
