Flanagan & Gerard secures full ownership of Morningside Centre

• Flanagan & Gerard acquires full ownership of high-performing Morningside Shopping Centre in Sandton, strengthening its retail portfolio.
• Fully let centre benefits from affluent catchment, strong tenant mix and consistent consumer spending in Sandton’s growth node.
• Sole ownership enables faster upgrades, tenant optimisation and long-term asset value enhancement.

Flanagan & Gerard deepens retail investment in Sandton

‍Retail specialist Flanagan & Gerard Property Group has taken full ownership of the award-winning Morningside Shopping Centre in Sandton, marking the first wholly owned retail asset in the group’s portfolio.

Located in the affluent suburb of Morningside, the centre serves surrounding high-income residential nodes including Bryanston and greater Sandton, benefiting from strong footfall, resilient consumer demand and stable rental income performance.

Flanagan & Gerard first invested in the asset in 2008, acquiring what was then an outdated shopping centre before undertaking a full redevelopment and reopening it in 2009 as a modern, community-focused retail destination. The group has since remained closely involved in managing and enhancing the centre, even housing its own offices there for over 16 years.

Details of the deal and investment partners

‍The acquisition follows the decision by co-owner Grapnel Property Group to dispose of its stake, allowing Flanagan & Gerard to exercise its rights and secure sole ownership.

‍The R640 million centre spans 11,600m² and is fully let across 64 stores, anchored by Woolworths Food, Pick ‘n Pay and Clicks. Its tenant mix blends everyday convenience with bespoke fashion and dining offerings, driving strong shopper loyalty and tenant retention.

While Flanagan & Gerard typically favours co-ownership partnerships, having worked with groups such as Vukile Property Fund, Sun International, Resilient REIT, Moolman Group and Growthpoint Properties, the group viewed Morningside Shopping Centre as a unique opportunity to consolidate ownership.

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Managing Director Paul Gerard notes: “This is a prime asset in an excellent catchment area with strong visibility and access. Residential densification in the area continues to grow the centre’s shopper base.”

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He adds that sole ownership enables faster and more focused asset decisions while partnerships remain an important strategy elsewhere in the portfolio.

Unlocking further value

‍With full control now secured, Flanagan & Gerard plans further enhancements to optimise tenant mix, expand key store footprints and improve operational efficiencies such as delivery access.

The group is also progressing zoning optimisations aligned with updated town planning conditions, forming part of a broader long-term value enhancement strategy.

As urban densification continues around Sandton and consumer demand remains robust in affluent catchments, Morningside Shopping Centre is well positioned to sustain its performance as a leading community retail destination.

For investors, the transaction underlines continued confidence in well-located, necessity-driven retail centres anchored in strong residential markets, a segment that continues to outperform in South Africa’s evolving retail landscape.

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