Vukile acquires 35% stake in Pradera, boosts European presence

South African retail REIT Vukile Property Fund is increasing its operational presence in Europe by acquiring a 35% stake in Pradera Limited. 

Shopping centre - Vukile

Pradera is a retail property investment and asset management firm with 25 years of experience across the UK, Europe, China, and the Middle East.
Pradera manages various retail properties, including shopping centres and retail parks, for over 60 institutional and private investors. These include well-known former Intu assets like The Trafford Centre in Manchester and Lakeside Shopping Centre in Essex.
Concurrently, Pradera's leadership team also acquired a 14% stake in the company, aiming to further align management interests with shareholders. Pradera is chaired by co-founder Colin Campbell, whose family trust holds the majority share, and Rhys Evans serves as CEO.
Vukile and Pradera have existing connections; Alfonso Brunet, CEO of Vukile's subsidiary Castellana, previously worked at Pradera's Madrid office for 11 years, and several other former Pradera employees are now part of Castellana's senior team. Both companies will continue to operate independently while capitalising on their synergistic relationship.
Laurence Rapp, CEO of Vukile Property Fund, commented:  “We have always believed that on-the-ground, specialist retail knowledge and deep local insight are key to success in new markets. This investment approach has served us extremely well in Spain and Portugal. Through our investment in Pradera, we now have access to a team of more than 100 retail specialists across 12 offices, managing around €5 bn of retail real estate assets in ten countries. This significantly de-risks any further expansion plans we are evaluating.”
Colin Campbell commented: “This is a strong vote of confidence in Pradera’s future. We have a first-class team, a market-leading reputation, a wide network of industry and investor relationships, and a strategic new shareholder in Vukile, that adds real depth to our platform. Our shareholder base is now made up entirely of retail sector specialists, and I’m excited about what we can achieve together.”