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Wynberg's Maynard Mall acquired for R455 million, expanding Cape Town's retail landscape
Wynberg's Maynard Mall acquired for R455 million, expanding Cape Town's retail landscape

IOL News

time18 hours ago

  • Business
  • IOL News

Wynberg's Maynard Mall acquired for R455 million, expanding Cape Town's retail landscape

The 25,969m² Maynard Mall, a convenience shopping centre located in Wynberg, Cape Town, has been acquired for R455 million. This transaction is said to reinforce South Africa's only regionally focused REIT's hyper-local investment strategy, targeting high-growth nodes across the Western Cape. Maynard Mall, a 25,969m² convenience shopping centre located in Wynberg, Cape Town, has been acquired by Spear REIT Limited for R455 million. 'This acquisition is a pivotal extension of our retail footprint in Cape Town's established Wynberg node,' said Quintin Rossi, CEO of Spear REIT. 'It deepens our exposure to resilient consumer retail trade and enhances our income stability profile, supported by a weighted average lease expiry of 57 months.' The acquisition was described as aligning with Spear's objective to grow its portfolio of well-located, high-quality convenience retail assets within the Western Cape. Maynard Mall, centrally located in Wynberg, Cape Town, is a convenience-oriented community shopping centre anchored by Shoprite, with a strong tenant mix comprising 70% national retailers, including Ackermans, Absa Bank, Clicks, Capitec Bank, KFC, Hungry Lion, Nedbank, Pep, Sportscene and Zone Fitness, as well as essential services such as the Department of Home Affairs and local traders. The centre caters to both daily and weekly shopping needs, drawing from a broad residential catchment area and the commuter market, with an annualised footfall of 6 million shoppers. The anticipated transfer date is 1 January 2026, with the acquisition being funded through a combination of cash from Spear's recent R 749 million capital raise and secured debt facilities. The transaction is expected to deliver an initial yield of 9.55%, with an additional R20 million allocated for medium-term capital expenditures. Spear said it has identified asset enhancement capital expenditure measures of up to R20 million to be carried out over a three- to five-year period to enhance the value proposition of Maynard Mall. These items include the potential increase in the self-storage offering, future expansion of the PV solar installation, modernisation of selected lifts, escalators, HVAC equipment and mechanical installations. Assuming the full asset enhancement capital expenditure is accounted for on the transfer date, the post capex, stabilised yield would be 9.15% - 9.3%. 'Spear has actively pursued growth opportunities in Cape Town's convenience retail sector, on terms that aligned with its strategic and financial criteria; requiring management to remain patient, selective, and firmly committed to its investment strategy,' Rossi said. 'Today's announcement gives credence to our approach.'

With Shooting League of India, ISSF ready to embrace attention
With Shooting League of India, ISSF ready to embrace attention

New Indian Express

timea day ago

  • Sport
  • New Indian Express

With Shooting League of India, ISSF ready to embrace attention

Over 70 shooters from around 20 countries, and around 500 domestic shooters have applied for the auction, for which a date is yet to be confirmed. "The Indian league (SLI) is really important also because it gives great attention and equal representation to men and women. I hope that this will be great chance for the athletes to receive attention from TV. It is time that the game opens to the world and we are ready to receive the attention," Rossi added. Kalikesh Narayan Singh Deo, president of the National Rifles Association of India (NRAI) emphasised on how technology could bridge the gap between the sport and the audiences. "New camera angles and biofeedback can be brought in to bring more excitement to the game as well as a better understanding of what the athlete is going through. When they are pulling that trigger and hitting that shot and the joys or the disappointments felt by them and they miss the goal by just the width of one breath," he said. With regards to the format, Kalikesh said that the league will try to keep it to the purest form of the game. "We also understand the pressures and the pulls of the current market of audiences. We are in advanced talks with some sponsors and broadcasters. We are also looking at esports as a key component to the league," he said.

India playing a big role in popularising shooting sport: ISSF chief Rossi
India playing a big role in popularising shooting sport: ISSF chief Rossi

News18

timea day ago

  • Sport
  • News18

India playing a big role in popularising shooting sport: ISSF chief Rossi

New Delhi, Jul 28 (PTI) International Shooting Sport Federation (ISSF) President Luciano Rossi on Monday said the global body wants to take the sport to great heights in Asia, and India would play a pivotal role in achieving that. ISSF has a total of 163 member countries but India has emerged as the hub of the shooting sport, given the number of teenagers taking up the sport. In a bid to harness talent, the National Rifle Association of India (NRAI) will also be organising a franchise-based Shooting League of India (SLI) later this year. 'The ISSF has 163 member countries across continents. But the biggest (potential) now is (in) India," said Rossi in an interaction with the media. 'ISSF relies on a strong cooperation from the NRAI and also other Asian countries. We have members from five continents, but Asia has a lot of talent and the incredible scores are a testimony to that," he said. 'We are working with India and China to help increase the sport activity around in Asia." NRAI president Kalikesh Singh Deo said that the global body had consistently helped India by awarding major international competitions to the coutry. 'ISSF has always been very generous towards India. They awarded us the World Cup Final in 2024 after the Olympics. This year, we are conducting the Junior World Cup. Next year in February, we have the Asian Shooting Competition… in 2027, the ISSF has given us a World Cup quota competition. 'And in 2028, we have the Junior World Championship, where thousands of young shooters will come from all over the world to participate in India," said Kalikesh. 'This is, of course, exciting for the Indian shooters, because most of our shooters come in the rather young category… we've had shooters as young as 16, going up to 24, 25, one of the youngest teams in the world. And, of course, one of the most successful teams in the world in the recently held Argentina and Peru and World Cups, as well as Munich." 'We are very excited that the world's first Shooting League of India is going to be held in India towards the end of November. We are very grateful to ISSF for listing it in the calendar. More than 70 international shooters from over 20 countries have agreed to participate in this. And of course, more than 400-500 domestic shooters have applied to be part of the auction process," added Kalikesh. Rossi said that ISSF is trying to make shooting a more television and spectator-friendly sport and the changes could be seen at LA28. 'For too many years, we talked inside the (shooting) family (fraternity). We forgot to showcase (the sport) outside the family (fraternity). It was a big mistake. 'Now, we are working to repair this. We (will) invest not only money, but also give a lot of attention to it. We are working for a new format for the Olympic Games. 'And we will test it this year in the World Cup Final that will be in Doha. We will be ready for LA28. We understand that shooting is not a physical sport, as some the other sports are. It doesn't mean that we can't make it more exciting and viewer-friendly." Rossi also hinted that there was a proposal to increase the number of finalists in shotgun events from six to eight and also in rapid fire, to bring uniformity in the sport. 'We have to increase the number of finalists in shotgun from six to eight, in rapid fire from four to eight, because in all other discipline it is eight. We are working on this," said Rossi. PTI AM AM AT AT view comments First Published: July 28, 2025, 20:15 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

Shooting League of India promises to trigger innovation
Shooting League of India promises to trigger innovation

The Hindu

time2 days ago

  • Sport
  • The Hindu

Shooting League of India promises to trigger innovation

The inaugural Shooting League of India (SLI) could pave the way for innovation, making the competition crisp, capturing the emotion and drama of the athletes, and making it attractive for the fans who enjoy watching sports. The president of the International Shooting Sport Federation (ISSF), Luciano Rossi, and the president of the National Rifle Association of India (NRAI), Kalikesh Singh Deo, promised to help the game evolve in a healthy, ethical, and interesting way as they addressed the media online on Monday. Collaboration 'For the first edition of the league, we work together with India. It will be a great success,' assured Rossi, from his home in Italy, as he fondly pulled out a photo to recall his association with Dr. Karni Singh, the first Indian to win a World Championship medal in shooting. 𝙎𝙤𝙢𝙚𝙬𝙝𝙚𝙧𝙚 𝙤𝙪𝙩 𝙩𝙝𝙚𝙧𝙚, 𝙩𝙝𝙚 𝙣𝙚𝙭𝙩 𝙘𝙝𝙖𝙢𝙥𝙞𝙤𝙣 𝙞𝙨 𝙬𝙖𝙞𝙩𝙞𝙣𝙜 𝙩𝙤 𝙗𝙚 𝙨𝙚𝙚𝙣 🏅💙# — Shooting League Of India (@SLI_Live) July 22, 2025 'We are in an advanced stage of negotiations with the sponsors, broadcasters. We expect to finalise and make the announcements by the end of September or early October,' said Kalikesh. Rossi and Kalikesh agreed that it was important to help the fans understand what the shooter was going through and appreciate the remarkable levels of accuracy being achieved in the sport. Change in format 'For too long, we had forgotten to show what we are. It was a big mistake. We are working towards a better format for the Los Angeles Olympics. It will be athlete first. We are collecting new ideas. We are close to change, without forgetting the spirit of the sport. Having finals that were too long, without emotion and drama, was not good for the sport,' conceded the ISSF president. Kalikesh observed that the vision for the shooting league was to have better visibility for the sport and gain commercial and financial support for the shooters, both domestic and international. 'We can do a lot with the league,' said Kalikesh, asserting that the evolution of the sport in a more viewer-friendly avatar could be the way forward, even though shooting has done well to retain its 15 events across pistol, rifle and shotgun sections, offering a total of 45 medals in the Olympics, despite new games jumping into the bandwagon.

Practice Shots: WeatherTech Raceway Laguna Seca
Practice Shots: WeatherTech Raceway Laguna Seca

Fox Sports

time4 days ago

  • Automotive
  • Fox Sports

Practice Shots: WeatherTech Raceway Laguna Seca

INDYCAR Alexander Rossi considers WeatherTech Raceway Laguna Seca his home track. The 33-year-old grew up in Nevada City, California, just under four hours from the scenic road course. His first visit came at the age three, when his father, Pieter, brought him to the famed Monterey circuit. While Rossi doesn't remember much from that early experience, the trips continued as he grew older, ultimately inspiring his path into motorsports. "That's just something we did every year -- go to the CART race at Laguna," Rossi said. "I fell in love with the sport.' One of those visits proved pivotal. "When I was 10 years old, we were walking around the exhibitors, and Las Vegas Motor Speedway had a booth,' Rossi said. 'They were offering a sign-up sheet for a three-day go-kart clinic. It was actually my 10th birthday, and we signed up right there at the track. The rest is kind of history." Rossi is back for this weekend's Java House Grand Prix of Monterey (Sunday, 3 p.m. ET, FOX, FOX Sports app, FOX Deportes and INDYCAR Radio Network), expecting family in attendance, a dynamic that brings added responsibilities off the track. This weekend is also unique in that Java House, the primary sponsor of his No. 20 Ed Carpenter Racing Chevrolet, is also the title sponsor of the event. 'It's busier,' Rossi said. 'It's kind of reminiscent of a week of May schedule in some respects. But it's also a good problem to have. 'It's not something that any of us should complain about. You just manage it. The team does a really good job of making sure there's adequate time to focus on the engineering and performance side, meeting the obligations that Java House and that whole group will set out.' Rossi, an eight-time winner in the series, is 13 races into his first season with Ed Carpenter Racing following 147 combined races with Andretti Global (2016-2022) and Arrow McLaren (2023-2024). He's 18th in points with four top-10 finishes. Despite a rough start to the weekend, hitting the Turn 6 barrier during Friday's practice, Rossi remains optimistic. His track record at Laguna Seca is solid with a third-place finish in 2024, his third straight at the track. 'To be able to have a home race and the car that I drive is also the title sponsor of the event is sort of like a perfect dream scenario,' Rossi said. Drivers Get First Look at Laguna Seca Here are three observations about the first practice in preparation for Sunday's 95-lap race. · The Laguna Seca racing surface was notoriously abrasive -- a cheese grater of a track that delivered thrilling races as drivers tiptoed around the 2.238-mile road course. A 2023 repave changed the dynamic, changing how drivers approached the circuit in recent years. But Friday's session showed that the track is once again proving tricky, with several drivers overstepping the limit and noticing increased tire wear. Devlin DeFrancesco, Rossi, Scott Dixon and Josef Newgarden each had off-track excursions during the session. · Pato O'Ward carried his momentum into Monterey by leading the opening practice session. Championship points leader Alex Palou was fourth in the No. 10 DHL Chip Ganassi Racing Honda. The two have gone head-to-head on natural road courses this season, finishing 1-2 with Palou beating O'Ward on two separate occasions. continued this momentum by leading the opening practice session. · Palou and Colton Herta have combined to win four of the last five Laguna Seca races. Herta was second fastest in the No. 26 Gainbridge Honda for Andretti Global. He finished runner-up to Palou last year. RLL Poised for Laguna Seca Breakout Rahal Letterman Lanigan Racing believes it's poised for a breakout. Maybe that comes in this weekend's 95-lap race. Team owner Bobby Rahal knows the 2.238-mile circuit well – he is the all-time winningest driver at Laguna Seca with four victories(1984, 1985, 1986, 1987) and also earned his first major race win at the track in the 1979 Can-Am Series. His son, Graham Rahal (No. 15 WWEX Group Honda) is one of only six drivers -- Palou, Colton Herta, Christian Lundgaard, Scott McLaughlin, andKyle Kirkwood -- to reach the Firestone Fast Six at least four times this season, with all of Rahal's appearances coming in the last five races. He finished fourth at the Monterey track in 2021 and enters off a seventh-place finish last week in Toronto. Rahal's teammate Louis Foster (No. 45 Droplight Honda) has made it to the final round three times, while DeFrancesco (No. 30 Mi-Jack Honda) has done so once. DeFranceso crashed early in the session but remains confident about his prospects for the rest of the weekend. He noted the car felt strong before the incident and expects to be competitive on Saturday. Foster, who was ninth fastest on Friday, is also the only rookie to advance to the Firestone Fast Six this season, highlighted by his maiden NTT P1 Award at Road America, a session where Rahal also made the final round and qualified fifth. The British driver has raced at WeatherTech Raceway Laguna Seca four times in INDY NXT by Firestone, winning both races in 2024 from pole position. McLaren Moves Into Andretti Global's Former Shop Arrow McLaren took ownership this week of its future NTT INDYCAR SERIES headquarters and has begun renovations on the facility located on the west side of Indianapolis. The project will nearly triple the size of the team's current Indianapolis based race shop. The organization purchased Andretti Global's former facility and is expanding it from 74,000 square feet to 86,000 square feet. In comparison, Arrow McLaren's current shop operates out of a 33,000-square-foot space. The team plans to move into the new facility in January, ahead of the 2026 NTT INDYCAR SERIES season. JM Bullion Expands Kirkwood, Andretti Global Partnership JM Bullion joined Andretti Global as a sponsor on Kyle Kirkwood's No. 27 Honda for last weekend's Ontario Honda Dealers Indy Toronto, where Kirkwood started and finished in sixth place. This week, Andretti Global announced that JM Bullion will continue as a sponsor for this weekend's race at WeatherTech Raceway Laguna Seca, as well as the Grand Prix of Portland on August 10. Kirkwood was seventh-fastest on Friday. Odds and Ends · The series returns to the track Saturday for practice at 11:30 a.m. ET and NTT P1 Award qualifying at 2:30 p.m. ET. Both air on FS1, FOX Sports app and INDYCAR Radio Network. · Saturday holds significant importance, as 23 of the 27 NTT INDYCAR SERIES races at Laguna Seca have been won from a top-three starting position. Since the series returned in 2019 after a 15-year hiatus (2005–2018), the winning drivers have started from first, first, 11th, 11th, and first on the grid, respectively. · Palou was third quickest in both pre-qualifying practice sessions last year. He'd go on to claim pole position and convert that into the race win. Marcus Armstrong (No. 66 SiriusXM/Root Insurance Honda) was third on Friday. He has four top-seven finishes on natural road courses in 2025 and seven top-10 finishes in his last nine races overall. · Arrow McLaren driver Christian Lundgaard and Andretti INDY NXT Team Principal, Rob Edwards, join FOX Sports INDY NXT by Firestone coverage this weekend. Lundgaard is the analyst for Saturday's 35-lap race and Edwards for Sunday. recommended Item 1 of 1

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