29 Feb 2012
The new Makro store, to be developed by The Moolman Group, will be located on the western side of Bloemfontein, at the junction of the N8 towards Kimberley and the N1 freeway. Approximately 5km from the Bloemfontein CBD and 4km from Langehoven Park the site offers excellent exposure, easy access from Bloemfontein and the surrounding areas, while remaining in close proximity to all amenities in the city.
On completion of the development the building, with a GLA of 17 049m2, will comprise of a typical Makro store layout, incorporating retail warehousing space, an open floor or trading area, a separate liquor store and butchery with chillers, and various other specialty departments, including technology, multi-media, outdoor and an office supplies component.
Although this exciting development is the fifth Makro development being undertaken by The Moolman Group, it marks the beginning of a notable new partnership between the developer and Nedbank Corporate Property Finance, who is providing the R170 million finance required for the completion of the project.
In addition to the four Makro developments (Wonderboom, Silverlakes, Vaal and Polokwane) completed recently, The Moolman Group's impressive portfolio of completed developments include Mall of the North in Polokwane (developed in partnership with Resilient Property Fund and Flanagan Gerard), Newpark Centre in Kimberley, Cosmos Centre in Bethal, Bedworth Park in Vanderbijlpark, City Centre in Polokwane, Magaliesview in Rustenburg and the soon-to-be-completed Middelburg Mall.
Ken Reynolds, regional executive: Nedbank Corporate Property Finance, Gauteng says the demand for a Makro trading store in the area is strong. "While the area does host two other bulk retail stores as well as a local mall, Makro offers a unique value proposition.”
Developed as a freestanding building located on the crossing between two major national highways, and featuring an impressive 840 open parking bays, he says the retailer is poised to become a destination centre in its own right, drawing shoppers not only from Bloemfontein , but also from all over the province and from neighbouring Lesotho.
Reynolds says its location strategically along a residential growth point on a site with excellent exposure given its prominent position is an encouraging indication of the economic development in Bloemfontein.
There are currently 16 Makro stores around the country and Makro is the trading name for one of the trading divisions of Masstores (Pty) Ltd, a subsidiaryof Massmart Holding Ltd. Massmart is a listed company with solid future growth prospects, given its recent acquisition by the US giant Wal-mart.
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