Leading JSE shopping centre fund, Hyprop today announced its R2,3 billion acquisition of Somerset Mall from Sycom Property Fund ("Sycom"), in line with strategy to invest in sizeable quality shopping centres.

Yield-enhancing acquisitions, A-grade properties and management's hands-on approach ensured that Sycom Property Fund weathered a tough office market and continued to grow earnings.

Listed property unit trust Sycom Property Fund said it "accepted" the JSE’s censure regarding three general issues for cash in 2010 and 2012, for which Sycom did not obtain unitholder approval, and said it did not believe it would be in the interests of unitholders to take the matter further.

The Competition Tribunal will on Wednesday consider the proposed large merger between Sycom, and Grapnel and Changing Tides 91.

Listed property unit trust Sycom Property Fund has entered into agreements to increase, through acquisitions worth R183m, its shareholding in Paarl Mall shopping centre to 100% from 70%

Sycom Property Fund Managers Limited has reported a distribution of 81.05c per unit (cpu) for the 6 months ended 30 September 2011, an increase of 5% over the same period last year.

There is a view that Hyprop, under CEO Pieter Prinsloo, may be able to unlock value for Sycom shareholders.

Hyprop Investments reported a disappointing interim results to June, dragged down by the underperformance of its hotel portfolio and listed property unit trust Sycom.

Acucap Properties has posted a 6.3% rise in total distributions to 275.63c per unit for the year ending in March from the previous year.

Cape property entrepreneur Stuart Chait has sold his interests in trendy Jo’burg work, live, play and shop precinct Melrose Arch to co-owner Amdec in a lucrative deal.