A new multi-level destination complex featuring a piazza-style food quarter is being built in Ballito, KwaZulu Natal, adding to its status as the fastest growing node in the country.
The Quarter will be adjacent to an 800-seater conference centre.
The Quarter will be adjacent to an 800-seater conference centre, the first dedicated venue of its kind in Ballito, which will be operated by the Signature Group.
According to Louise Gibson of ComProp, the property management company marketing the 3800sqm development, the complex will include showroom, retail and office space to attract both the business and leisure markets as well as servicing the needs of the proposed conference centre and its out-of-town visitors.
Gibson says they have had an overwhelmingly good response from restaurateurs due to the piazza dining concept and the benefit of the proposed tenants. “The strategic location of the complex betweenthree hotels in the heart of the Ballito Business Park, is a big draw card.”
ComProp says it has received commitment from a Thai and a Chinese restaurant as well as Greek and Mexican restaurants and a coffee shop with a children’s play area. Discussions are also in progress with a well-known Durban-based Italian restaurant.
Other tenants on the cards include décor companies for showroom space and several small retail outfits hoping to take advantage of the anticipated foot traffic that will be generated by the destination dining centre.
A third floor of office space including a boardroom for corporate hire will complete the mix.
Developed by JNM Construction, the complex’s big draw card for prospective tenants is the competitive rental. “The Quarter is launching the space at R55 a square metre compared to average retail rentals in the area in excess of R100 a square metre.
“We believe that this is an important point in attracting a desirable mix of shops and businesses, given that there is still considerable pressure on tenants to afford rentals out of kilter with current market conditions,” says Gibson.
She says there will also be ample secure parking facilities, at shop as well as basement level.
Construction starts on The Quarter in May and the completion date is set for the end of November 2011.
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