The Fourways Mall turnaround in Johannesburg is nearing completion, with vacancies at the 90,000m² super-regional shopping centre narrowing to under 10% by the end of March, according to Moneyweb. Accelerate Property Fund, which owns 50% of the mall, said additional letting concluded after year-end is expected to reduce the vacancy rate closer to 5%, a sharp improvement from the near-20% level recorded the previous year.
Fourways Mall vacancies have fallen as the property now averages more than one million visitors per month, peaking at 1.7 million in December 2025, a 20% increase on the prior year. The mall extended trading hours from October and introduced zero-rated parking after 5pm to boost after-work footfall. The turnaround has been driven by active management from retail specialists Flanagan & Gerard and the Moolman Group, appointed in February 2024, who said the property had faced leaking roofs, under-lit fire escapes and outdated systems before their involvement.
Attention is now turning to The View, a new development on the western side of Fourways Mall, with Accelerate Property Fund investing R100 million over the past year to create a stronger food and lifestyle node. The preliminary launch date is set for 1 October. The View Fourways Mall has secured leases covering 4,342m² at an average rental of R201.8 per square metre with tenants including Pantry by Marble, George’s Grill, tashas and Fournos, several on 10-year terms.
Accelerate CEO Abri Schneider said the vacancy reduction is the most visible improvement, but described cash collection as the next challenge. Rental collected versus billed averaged 92.81% over the three months to March 2026, with receipts averaging approximately R45.6 million per month.
In the 2026 financial year, Fourways Mall generated R255.7 million in revenue, with R121.7 million in net property income. Accelerate’s 50% stake in the asset is currently valued at R4.2 billion, up from R4 billion the previous year. The other 50% owner, Azrapart, controlled by Michael Georgiou, was placed into business rescue in June 2025, with Accelerate saying it continues to make joint decisions with the appointed practitioners for the mall’s operation. The retail recovery comes as other South African businesses are also expanding operations, including recent limited-edition product launches by Ford.
I am Rukaiya Kadiwala, an experienced News Content Writer with 6+ years of expertise in hospitality, travel, hotel, restaurant, business, and lifestyle news. Skilled in writing, research, fact-checking, headline creation, and digital publishing, I create accurate, engaging, and high-quality content that informs and attracts readers worldwide.
