Table of Contents
Hosken Consolidated Investments (HCI), the Johannesburg-listed investment group led by South African businessman John Copelyn has agreed to sell The Point Mall in Cape Town’s Sea Point district for R943 million ($55.7 million). The sale forms part of the group’s plan to reduce property holdings and reallocate capital to other operations.
The buyer, Future Indefinite Investments, will acquire the entire rental business attached to the property. The sale covers the building, its improvements, tenant leases, and all fixtures and fittings. The transaction will be executed through Permasolve Investments, an HCI subsidiary that owns and operates the mall. HCI holds a 70.59 percent interest in Permasolve.
HCI sets sale terms, penalties
The Point Mall, known for its mix of retail and commercial tenants, has delivered steady earnings for the group. HCI said proceeds from the sale will first be used to settle Permasolve’s borrowing and tax obligations. Funds left over will go toward cutting HCI’s overall debt and reducing preference-share funding.
To guard against delays, the agreement includes financial penalties if the transfer is not finalized by Sept. 30, 2026. Should the buyer or its lender cause the delay, monthly interest charges of R2.55 million ($0.15 million) will apply from October to December 2026.
The charge will rise to R5.11 million ($0.3 million) per month from January 2027. As of Sept. 30, 2025, the rental business carried net assets of R188.3 million ($11.1 million) and reported profit after tax of R5.47 million ($0.32 million) for the prior six-month period.
John Copelyn shapes a broad HCI legacy
HCI has long been one of South Africa’s most active investment groups, with holdings that span hotels, gaming, broadcasting, transport services, real estate and energy. John Copelyn who became CEO in 1997 has played a central role in widening the company’s reach and shaping it into a major Black empowerment investment vehicle.
Through his investment firm, Chearsley Investments Proprietary Limited, Copelyn owns 6.63 million HCI shares, equal to a 7.7 percent stake. He has been closely involved in the group’s subsidiaries, including Deneb Investments, Tsogo Sun and eMedia Holdings, giving him significant influence over strategic decisions.
HCI boosts Africa energy partnership
One of HCI’s most ambitious efforts is its push into energy. The company is backing plans to commercialize South Africa’s largest offshore gas find—the Brulpadda and Luiperd fields. The discoveries, sitting in Block 11B/12B, are considered the country’s most important to date. After TotalEnergies, CNR International and QatarEnergy exited the project in 2024, HCI moved through its energy arm, Impact Oil & Gas, to keep the development on track.
HCI now owns 49 percent of Toronto-listed Africa Energy Corporation, which holds a 10 percent interest in the block and is poised to take over as operator. The group sees the project as an important contribution to easing South Africa’s persistent energy shortages while offering long-term cash-flow potential once production begins.
