07 Nov 2012
With the festive season almost upon us, shopping mall owners are gearing up for the next busy months with some extending their retail offerings.
In Bedfordview, Gauteng, owners of the Village View shopping centre, The Cavarelos Group have announced that Woolworths is expanding.
The new bigger Woolworths store will be over 1 500 square metres when it opens and will give shoppers even more to choose from.
Elsabe Griesel, portfolio manager, explains that recent research revealed the Woolworths is Village View shoppers’ favourite store.
“The Woolworths expansion responds to the specific shopping and lifestyle needs of Village View shoppers and is a catalyst for several further important changes.”
The centre will undergo a R20 million makeover with over 1 500 square metres being refurbished, including reconfiguration of space of almost 600 square metres to help meet the demand for retail space at the centre.
The project also introduces new retail concepts to this trend-setting centre.
Locals will soon be able to enjoy an exciting new workout programme with Sweat 1000.
This fitness innovation opens on 1 February 2013 in the 284 square metre shop 17 in Village View’s centre court, while bakery Vovo Telo recently joined Village View’s handpicked retailer mix.
Shoppers can also expect two new restaurants at this dining hot-spot.
“We continually seek new and original ways to enhance the entire Village View experience and bring our stylish shoppers more of what they enjoy the most,” says Griesel.
The mall is centrally located, boasts enough parking with 40 hand-selected retailers and over 91 percent of Village View’s shoppers visit this community convenience centre weekly, according to its owners.
Located on the main arterial into Pietermaritzburg from the east, and the Pietermaritzburg campus of the University of KwaZulu-Natal right on its doorstep, the mall launched its new look recently with the 8 500 square metre first phase of its extensive revamp.
The first phase includes a full redesign of the common areas, an extensive security upgrade and a new, contemporary look.
The second and third phases will focus on expanding and diversifying the tenant mix.
Redefine invested R34.5 million in the three-phase project.
Checkers remains the anchor tenant and the new retail offering includes the likes of Mr Price, Sheet Street, Bed Masters as well as African and Capitec Banks, explains group development manager at Redefine Properties, Mike Ruttell.
“Existing tenants have played a key role in the refurbishment, updating their own stores and contributing in a dynamic way to the rebranded space,” he says.
Ruttell points out that as an investment, the refurbishment is paying off as the first phase is fully let and generating a yield of 10.26 percent.
Launched in 2007, Factorie now has well over 100 stores throughout Australia and New Zealand.
Factorie takes inspiration from the beach to the street and everything in-between and is among several leading international and local retailers to target Mall of the North and its unique shopper market.
Other retailers that recently opened at the Mall of the North include Fabiani, Levi’s, 8ta and Skechers, according to its owners.
Mall of the North is jointly owned by JSE listed property company Resilient Property Income Fund, Flanagan & Gerard Property Development & Investment and Moolman Group.
“These leading local and international brands will add even more shopping variety for Mall of the North consumers, furthering its complete, comprehensive shopping experience,” says Johann Kriekof of Resilient Property Income Fund.
Since opening in April 2011, Mall of the North's robust and growing trade continues to garner retail demand.
It has 180 retail stores with anchor retailers including Pick n Pay, Checkers, Edgars, Woolworths and Game.
Paul Gerard of Flanagan & Gerard Property Development & Investment explains that meeting shopper needs and staying abreast of retail trends requires constant monitoring and adaptation. –Denise Mhlanga
Denise MhlangaProperty journalist at property24.com
If you are using Internet Explorer 8 or higher, please verify that your Internet Explorer compatibility view settings are not enabled.
For the best browsing experience, update to the latest Version of Internet Explorer or try out Google Chrome or Mozilla Firefox.
Please contact our Property24 Support Team for further assistance. Tel. +27 (0)861 111 724