Property investment holding group Hyprop is increasingly becoming a niche retail specialist.

Opposition to the extension of The Mall of Rosebank into Cradock Avenue is receiving support from a group of tenants in the northern Johannesburg shopping centre.

PROPERTY investment group Hyprop has scooped The Mall of Rosebank and JHI House, beating two other contenders to the two jewels in the portfolio of property unit trust Cenprop.

Group has 68% retail sector exposure.

Pretoria - The Mall of Rosebank and Centre City Property Fund, the listed property company, were yesterday granted leave to appeal in their dispute with Stephen Le Roith, a director of Cradock Heights.

Insurance group Momentum is considering raising its R320m cash offer for two Johannesburg north properties, The Mall of Rosebank and the adjoining office block JHI House, says Warren Schultz the chief operating officer of RMB Properties, which is acting on behalf of Momentum.

MONEYWEB: Welcome to Redefine chief executive Peter Penhall. The deal has been dragging on for quite some time. Perhaps just by way of background, Peter, why does Redefine want to buy these properties from Rand Leases?

Rosebank Mall's shareholders and its small tenants will be the big losers if owner Cenprop can't stop a demolition order. Cenprop is appealing the order, which could take a year or more to reach court.

Shareholders of listed property fund Centrecity Property (Cenprop) could take a knock if a high court decision which ordered demolition of a certain section of Cenprop's shopping centre, The Mall of Rosebank, goes through.