23 Oct 2012
Woolworths Food at the Magalies View Centre in Rustenburg has undergone an extension, taking it to 1 600 square metres of unrivalled food offering.
Woolworths together with the Moolman Group developers and centre owners undertook a 600 square metre extension to the store to complement the landlord’s vision in terms of the centre’s food offering.
Woolworths Food store is the major anchor tenant and the new-look store will open next month.
“The fact that Woolworths is extending within a mere four years of the centre being developed is testament to its popularity and performance,” according to the Moolman Group.
The shopping centre is located at the corner of Marlin and Korokoro Streets in Waterval East Rustenburg.
Cash Converters has also taken 340 square metres of space in the centre, and their new store will open on 1 December this year.
Other retailers include Meat World, Liquor City, Nando’s, Steers, Debonairs, Blockbusters, Light Spot, Rage Shoes and several local tenants.
“The fact that Woolworths is extending within a mere four years of the centre being developed is testament to its popularity and performance.
Magalies View Centre was originally developed by the Moolman Group in 2008 and it offers a GLA of approximately 5 200 square metres and 18 retail stores.
Speaking to Property24, its owners say the centre serves the community as a convenience shopping destination.
“It offers great access, is superbly located between the CBD and residential areas and the product offering is focused on convenience shopping.”
Last month, the Moolman Group completed a new Audi and Volkswagen motor dealership development on the corner of Marlin and Korokoro Streets – directly opposite Magalies View Centre.
Moolman spent over R4 million upgrading the roads around Magalies View Centre and this upgrade entails a circle installed in Korokoro Street as one leaves the centre and the installation of a separate lane for vehicles turning left out of Drakensberg Street.
Asked about the retail property market in Rustenburg, Moolman says they are seeing an increased offering with more value developments in the immediate vicinity of the mall.
They say this may strengthen the node but also compete with Magalies View Centre.
Meanwhile, the latest data from Statistics South Africa (Stats SA) reveals that in real terms (constant 2008 prices), seasonally adjusted retail trade sales increased by 2.0 percent in August following month-on-month changes of -0 1 percent in July 2012 and 1.7 percent in June 2012.
Retail trade sales increased by 6.4 percent year-on-year in August 2012.
Stats SA says the highest annual growth rates were recorded for retailers in textiles, clothing, footwear and leather goods (17.6 percent), hardware, paint and glass (8.8 percent) and household furniture, appliances and equipment (7.4 percent). – Denise Mhlanga
Denise MhlangaProperty journalist at property24.com
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