Top retailers take more space at expanded Sandton City

Rendering of the Protea Court at Sandton City.

Leading SA retailers have seized the opportunity to expand together with on of the country’s premier shopping destinations, Sandton City.

The super-regional shopping centre’s landmark expansion and refurbishment project involves interior refurbishments and 30 000 m2 of new retail space.

 

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Pretoria becoming a shopping mecca

Pretoria – Development and investment in Pretoria’s shopping and retail sector has given the city a surge in its economic status.

The rise in the number of shopping centres has put the city among the country’s premier areas.

The city boasts no fewer than five of the province’s most impressive malls, with Menlyn Park being the biggest, and at 118 253m2, carries the title of Super Regional Shopping Centre.

 

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Mall developments show no sign of a slowdown

AS LONG as malls keep performing, developers will keep on building them, Emira Property Fund CEO James Templeton said on the sidelines of the South African Property Owners Association (Sapoa) conference on Wednesday.

Emira itself, which is over-weight offices, was looking for more retail opportunities. “Shopping centres are becoming the heart of communities — it is where families go,” Mr Templeton said.

 

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Pretoria’s Menlyn mall to get R2bn facelift

Pretoria’s Menlyn Park Shopping Centre, the capital’s largest shopping mall, is set to be further expanded and refurbished at a cost of about R2 billion. Hein Smit, fund manager for Old Mutual Property Funds, said plans were to expand the retail space in the centre by 51 000m2. This would would result in the mall gaining about 200 new tenants. The regional shopping centre is already the largest in Pretoria and one of the largest in the country.

Smit said the expansion of the centre was driven primarily by current tenants wanting to expand existing brands and introduce new brands, as well as demand from international retailers. The expansion would be in three phases, with the first starting next month. This phase is expected to be completed by March next year. The final expansion phase was scheduled to be completed by December 2016.

 

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Nelson Mandela Square to undergo major refurbishment after 20 years

The redevelopment project aims to restore the precinct as one of the premier lifestyle and dining destinations in Gauteng. “Nelson Mandela Square has been trading in its current format for almost 20 years and plays an important role within the broader Sandton complex,” said Alex Phakathi, Liberty Property Portfolio fund manager and fund manager at Stanlib Direct Property Investments.

Stanlib Direct Property Investments Franchise manages the Liberty property portfolio. Mr Phakathi said the square’s facelift would ensure its tenant mix and aesthetics were aligned to that of the recently refurbished and expanded Sandton City. The redevelopment would introduce new restaurants and clothing stores.

 

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Sandton City Office Tower’s facelift under way

Liberty Holdings and Pareto Ltd have partnered to provide valuable façade upgrades to one of SA’s most recognizable office locations, the Sandton City Office Tower.

Co-owned by Liberty Holdings and Pareto Ltd, the upgrade will be managed by Liberty Properties.  The Sandton City Office Tower has been a focal point in Sandton from its location on 5th Street since it opened for business in 1973. Visible from vantage points across the greater Johannesburg area, the 22 storey high-rise is one of the most recognisable landmark buildings in the Sandton node.

 

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Rejuvenated Sandton City to see more global brands

MORE global brands are set to feature in Sandton City and the adjacent Nelson Mandela Square as the centre’s redevelopment caters to SA’s aspirational consumers.

Though there is little respite on the horizon from lower utility costs or easier credit, the propensity to shop — particularly for clothing and footwear — endures.

 

For more information visit www.bdlive.co.za