The ever-popular centre, owned and run by Fivo Coutsides and managed by his son, Stellio, has been sold to the Bentel Group. The deal is effective March 1.
Fivo thanked the Northmead Square’s loyal patrons and tenants for their support over the years.
“The centre’s popularity, which continues to this day, is a tribute to the tenants, some of whom have been here since its inception,” said Fivo.
“We have enjoyed almost 100 per cent occupation since 1998.
“We are satisfied it has been left in good hands.”
Fivo thanked his management team and cleaning staff, as well as security, who contributed to the centre’s success.
Although the centre has become a popular landmark in Benoni, the land on which is was built enjoyed its own popularity, long before a brick was laid.
The soil on which the Northmead Square is built was purchased by Fivo’s parents, Stellios and Maroula Coutsides, in 1961.
There was a farmhouse on the property at the time, which affectionately became known as “The Pink House”, because of the conspicuous, pink outer walls — the result of a fault in the paint mixture.
Fivo said the house was so well-known that post would be delivered to the house under the address: “The Pink House”, Benoni.
The family lived in the house for many years, renting it out to tenants before it was demolished. “The Square”, as the centre has become known to many, was opened in July, 1998.
At the time of its opening, it was the only centre in Benoni which had a cinemas, and remains the same to this day.
Fivo will continue living Benoni and will support the centre after his departure.
