Ndola, Zambia

Kafubu Mall is an early stage retail centre developed as a Public Private Partnership between Zambia’s Workers Compensation Fund Control Board (WCFCB) and Heriot Property Limited. Grit acquired a 50% interest in the centre in December 2015.

The mall adheres to Grit’s focus on dominant, super convenience centres located in strategic nodes outside of main centres and caters for everyday necessities and services with several catering offerings.

Ndola is strategically located at the junction of roads leading to several cities and towns on the Copperbelt and beyond, with easy access to the Democratic Republic of Congo (DRC) to the north and Angola to the west. The DRC is just 10 kilometres away from the town.

Property Details

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Kafubu Mall

Retail Sector 
50% Ownership
Location: Ndola, Zambia
Anchor Tenant: Shoprite
Acquisition Price: US$9.1 million
Valuation1 (as at June 2019): US$12.3 million
Acquisition Date: Tuesday, 01 December 2015
WALE – GLA: 4.28
WALE – Income: 3.89
Land Title: Leasehold
GLA1: 11 923 m² (100%)
EPRA Vacancy: 0.1%
Parking Bays: 273
EPRA NIY: 7.2%

Value presented proportional to ownership interest held, 100% GLA reported

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