04 Oct 2007
The R1,2bn, retailer-driven Mall of the North regional shopping centre, located in Limpopo Province's capital city, Polokwane, will break ground early next year.
The 75,000sq m regional shopping mall will be built on a 27 hectare site at the intersection of the N1 bypass and Madjadjiskloof Road (formerly Magoebaskloof Road). It will comprise five anchor tenants, numerous national retailers, line shops, restaurants and an eight-screen cinema.
The development is owned by a consortium consisting of the Resilient Property Income Fund (48%), Flanagan & Gerard Property Development & Investment (16%), Moolman Group (16%) and a Polokwane based BEE Group (20%).
Developers Flanagan & Gerard have previously developed shopping centres in areas such as Paarl, Vanderbijlpark, Benoni and Witbank.
Patrick Flanagan of Flanagan & Gerard explains that Mall of the North is being developed as a result of demand from national retailers who wish to gain access this market, as well as those which are unable to adequately cater for consumer demands in their existing locations.
"There is currently an annual R300m consumer spend outflow from Polokwane as local consumers travel into places like Pretoria and Ekurhuleni to obtain goods and retail brands which are unavailable locally," notes Flanagan.
"The Mall of the North is positioned to recapture this. It will have a positive impact on the GDP of Polokwane."
While the Polokwane CBD is well-established and developers foresee no impact on the city centre as a result of the development of Mall of the North, there is very little decentralised shopping in the city.
"Mall of the North will serve Polokwane as well as the entire northern region of the country, with cross-border shopping as an additional factor," says Flanagan.
Scheduled to open late in 2009, Mall of the North is positioned for the 2010 FIFA Soccer World Cup.
Flanagan explains that the Mall of the North site was selected because of its location in Bendor, which is situated in a rapidly growing part of Polokwane with numerous housing developments currently established, further developments proclaimed and more in the pipeline. Bendor is firmly located in Polokwane's growth corridor and Mall of the North is sited at the intersection of a national and provincial road.
There will also be substantial road upgrades in the immediate area and all roads will fit into a new urban road grid that has been formulated by the Polokwane Council. In addition to parking for some 4,500 cars, Mall of the North will also provide comprehensive taxi and bus facilities.
For more information contact 011 783 8449.
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