Balfour Park Shopping Centre has received a new look with a R120m refurbishment which was undertaken to meet the modern lifestyle needs of its shoppers, Investec Property said on Friday.
The revamp of the 22-year-old Balfour Park Shopping Centre is one of a number of projects being undertaken in line with Investec Property's strategic approach to development which delivers specialist projects to the market, creating competitive, quality developments.
The centre now offers some 36,400sqm of retail variety, served by ample free secure parking, reflecting an excellent collection of anchor tenants such as Woolworths, Mr Price, Edgars, Checkers, Truworths, Foschini, CNA, Clicks, Ackermans, Milady's and Markhams. This is matched with a number of small, unique boutiques and stores to refine and define the tenant mix.
Furthermore Balfour Park Shopping Centre's banking hall now provides an exceptional financial services offering, including all the country's major banks: Nedbank, Standard Bank, Absa and FNB; in addition to Capitec Bank which also has premises at the centre.
In the case of Balfour Park, Ronnie Sevitz of Investec Property explained that refurbishing and reconfiguring the centre was embarked upon specifically to meet consumer and retailer demand, while extensive evaluation was also given to every aspect of delivery in the planning of the refurbishment.
"All elements, from the physical structure to shopper flows and from tenant mix to community positioning, were considered in the project's preparation."
According to Sevitz more plans are afoot for this centre, with possibilities including an expanded restaurant offering, live entertainment and the centre's retailers upgrading their own stores.
Checkers will be injecting approximately R20m into its store to ensure that their offering best serves the needs of the surrounding community, said Sevitz.
Sevitz also confirmed that Investec Property was considering a number of retail projects in which the team can apply its specialist knowledge and experience to add value to retail property.
Among these was a total overhaul of the Checkers Hyper in Vanderbijlpark to create a relevant and modern retail destination providing shoppers with new-generation specifications, which was being driven by the resurgence of development in the area.
"We are confident that good opportunities for retail projects exist in the South African market right now, both in the form of upgrades and expansions, as well as new developments," said Sevitz. – I-Net Bridge
Readers' Comments
Have a comment about this article? Email us now..
Property News
Click here for more property news articles.
Need a blog?
Start your own blog with a free blog from 24.com.
