A significant transaction for the sale of the Lighthouse Mall in Chartwell Drive, Umhlanga Rocks, has been concluded.
The deal was facilitated by Billy Latham, broker at JHI Properties, in collaboration with Hein Hattingh, MD of Auction Alliance in KwaZulu-Natal, for an undisclosed sum.
With a strong tenant mix anchored by Checkers, the 8,371sqm Lighthouse Mall is well situated in an upmarket, secure location in the old Umhlanga town centre, a stone’s throw from the sought after Umhlanga Ridge precinct.
The property has been purchased by a private company represented by the Willemse family of Newcastle and the sale was concluded by private treaty through JHI, with the purchaser introduced by Auction Alliance.
“This is a sound investment acquisition, which signals continued investor interest and confidence in the old town centre of lower Umhlanga Rocks. Located in a well managed environment, the Lighthouse Mall includes other national tenants such as FNB, Nandos, CNA, Clicks, MTN and a Caltex garage, with popular local restaurant Butcher Boys and the well-patronised local pub The George and Dragon,” says Rob Moran, KwaZulu-Natal regional director for JHI.
“It is well positioned in a vibrant and safe precinct popular among locals and tourists alike. Retailers are well supported by shoppers drawn from offices, businesses and upmarket residential suburbs in the area.
“The Umhlanga Town Centre enjoys a sound infrastructure, well managed by a pro-active Umhlanga Urban Improvement Precinct (UIP), which further enhances its appeal,” says Moran.
The Umhlanga UIP was launched in 2009, tasked with turning around urban decay and improving safety within the precincts, while supporting the setting up of neighbouring managed areas.
For more information contact Rob Moran on 031 534 2505 or send an email.
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