Township gets big retail centre
The R520m Mdantsane City shopping centre in Mdantsane is open for business.
The biggest property development so far in East London, the R520m Mdantsane City shopping centre in Mdantsane, was opened at the end of last month.
The 36,000m² centre, developed by the Billion Group, will provide much-needed retail space in an area that has not seen much in the way of retail development. Mdantsane is SA's second-largest township.
Gavin Tagg, CEO of Retail Network Services, the retail strategist for the development, says the centre is fully let.
Among its anchor tenants are Pick n Pay, Shoprite, Woolworths, Jetmart, Foschini Group, Truworths Group and Pepkor.
Although a downturn in the retail market is being experienced, Tagg says the group did extensive research before construction began in November 2006.
He says the centre has been built in an area that is “previously disadvantaged” and “hugely underserved” by retail.
This is also the Billion Group's first retail shopping centre to open in East London. The group is busy with construction of the Hemingways Mall in East London.
Tagg says Mdantsane City has a “strong fashion and convenience” tenant mix, as well as fast food outlets such as Captain Dorego, Hungry Lion, Chicken Licken and Debonairs Pizza. The centre has a “strong” furniture component and motor related section.
Source:
Business DayPublished courtesy of
Connected by: Uninet
muti
del.icio.us
stumbleupon
yahoo
google
facebook
newsvine
Digg
Reddit
GoGuide
