Vukile Property Fund has taken a significant step in its European growth strategy, acquiring a 35% stake in specialist retail property investor and asset manager Pradera Limited.
Source: Supplied. Laurence Rapp, chief executive officer of Vukile Property Fund.
The investment strengthens Vukile’s on-the-ground retail real estate capabilities, providing access to deep local expertise across key European markets while supporting its long-term expansion ambitions.
Laurence Rapp, chief executive officer of Vukile Property Fund, comments, “This is a significant strategic move in support of our stated goal to explore expansion into more European markets. Importantly, the transaction represents a substantial stepping stone for future strategic delivery.
Rapp adds, “We have always believed that on-the-ground, specialist retail knowledge and deep local insight are key to success in new markets. This approach to investment has served us extremely well in Spain and Portugal.
"Through our investment in Pradera, we now have access to a team of more than 100 retail specialists across 12 offices, managing around €5bn of retail real estate assets in 10 countries. This significantly de-risks any further expansion plans we are evaluating.”
Pradera manages shopping centres and retail parks on behalf of more than 60 institutional and private investors, including former Intu assets already familiar to the South African market, such as The Trafford Centre in Manchester and Lakeside Shopping centre in Essex.
Leadership strengthens partnership
Pradera is chaired by co-founder Colin Campbell, whose family trust is the majority and controlling shareholder. Vukile’s investment became effective on 18 December 2025, as did a 14% Pradera leadership buy-in to further enhance alignment between management and shareholders. Pradera is led by chief executive officer Rhys Evans.
Campbell comments, “This is a strong vote of confidence in Pradera’s future. We have a first-class team, a market-leading reputation, a wide network of industry and investor relationships, and a strategic new shareholder in Vukile, that adds real depth to our platform. Our shareholder base is now made up entirely of retail-sector specialists and I’m excited about what we can achieve together.”
Vukile and Pradera already share close ties. Castellana chief executive officer, Alfonso Brunet, spent 11 years at Pradera’s Madrid office before joining Castellana in 2017, and several former Pradera colleagues now form part of Castellana’s senior team. The two businesses will continue to pursue their independent strategies, while leveraging inherent synergies.
Rapp notes, “Our investment in Pradera’s leading platform helps to pave the way as Vukile explores further expansion in Europe. Vukile, Castellana and Pradera together represent Europe’s premier retail property knowledge capital, with unmatched retail real-estate experience, insight and access.”
