Benmore shopping centre upgrade
30 Jun 2009
The upgrade of the Fountainhead Property Trust's Benmore Gardens shopping centre is showing positive results, with foot traffic more than doubling from 200 000 per month to above the 500 000 mark.
According to Anton Raubenheimer, Fountainhead's MD, the R192 million, three-year upgrade has seen the gross lettable area (GLA) increase by 3 758sqm, taking the total GLA to 20 446sqm, and the introduction of new anchor tenants has cemented the centre's position as a popular retail destination.
The centre retained key tenants - Pick n Pay, which has relocated to new premises within the new concept, Dischem, banks and the Post Office – and attracted several new ones, namely Woolworths, Fournos Bakery, Baby City and Toyzone plus three major restaurants. There are currently 838 parking bays and this number will increase to 1019. Parking will be strengthened by creating additional decks on the southern side of the centre.
"Since the centre's opening in 1967, it underwent a smaller refurbishment about 10 years ago but this current project, on a far greater scale than the previous one, is designed to reinforce its standing as a significant retail centre," says Raubenheimer.
He adds that the appearance of the centre has been greatly improved with widespread cosmetic changes, ranging of upgrades of the entrances, a new façade, new flooring and lighting as well as refurbishing of the toilets.
"Fountainhead's focus is on high quality retail assets within major economic areas. Benmore Gardens has always been a significant property within our retail portfolio and the refurbishment is in line with our philosophy of expanding our existing portfolio," says Raubenheimer.
Readers' Comments
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Great improvements, but increased parking is a must as current shortage of parking is chasing me away from my "local" favourite shopping complex for "eating out". - Anonymous
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