Vukile buys 35% of global retail platform Pradera

Vukile Property Fund has taken a major step toward scaling its international footprint by acquiring a 35% stake in Pradera Limited, a specialist retail property asset manager.

It did not disclose the value of the deal, regarded as a ‘category 2’ transaction.

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The transaction, which became effective on 18 December 2025, grants Vukile strategic access to a management platform overseeing €5 billion in retail assets (roughly R94.7 billion) across ten countries, including the UK, continental Europe, China and the Middle East.

The move aligns with CEO Laurence Rapp’s stated objective to move beyond the fund’s current strongholds in Spain and Portugal.

By partnering with Pradera, Vukile gains a massive operational advantage, including a team of over 100 retail specialists spread across 12 global offices.

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Vukile noted that its success in the Iberian Peninsula has been built on the philosophy that deep local insight is non-negotiable for retail real estate.

Pradera’s portfolio includes more than 60 institutional and private investors, managing iconic assets such as The Trafford Centre in Manchester and Lakeside Shopping Centre in Essex – properties already well-known to South African investors.

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The two entities already share a professional history.

Castellana CEO Alfonso Brunet spent over a decade at Pradera’s Madrid office before joining Vukile’s Spanish subsidiary, and several former Pradera colleagues now hold senior roles within the Castellana team.

Despite these close ties, Vukile and Pradera will maintain their independent strategies while collaborating on operational synergies.

To ensure long-term stability and performance, the transaction included a 14% leadership buy-in from Pradera’s management, which is led by CEO Rhys Evans. Pradera continues to be chaired by co-founder Colin Campbell, whose family trust remains the majority and controlling shareholder.

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Rapp described the deal as a “substantial stepping stone”, noting that the combined expertise of Vukile, Castellana, and Pradera now represents some of the most concentrated retail property knowledge in Europe.

This partnership significantly “de-risks” the Reit’s future expansion plans by providing the necessary on-the-ground capabilities before any direct asset acquisitions are made in new European territories.

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