Overwhelming retailer response to Mall of the North launch
Almost 700 tenant applications for retail space have already been received for Limpopo's Mall of the North - showing a very positive response for the province's largest single property development to date. Set to open in the first quarter of 2011, the 75,000m2 regional shopping centre is currently being developed in a prime location in the province's capital city Polokwane and is already 90% let.
The R1.2 billion mall is owned and developed by JSE-listed company Resilient Property Income Fund, Flanagan & Gerard and Moolman Group.
“The developers and owners of Mall of the North recently invited local and national retailers to gain knowledge about the centre and to register as prospective tenants. The event was held near the centre's construction site and proved to be a resounding success,” says Patrick Flanagan of independent property developers, Flanagan & Gerard. “With tenant responses and queries rapidly reaching the 700 mark, we are in an advantageous position of being able to hand pick retailers for the centre. This will ensure that the optimum tenant mix is achieved by selecting the finest tenants to take up space at Mall of the North.”
“Mall of the North's location has provided the basis for the positive feedback received from local and national retailers alike. Many of the national retailers are excited about the development, as it will further enhance the province as their leading trading area within the country,” notes Jannie Moolman of the Moolman Group.
The centre will host a Pick n Pay, Checkers, Edgars, Woolworths and Game as its anchor tenants. Other national tenants include a Truworths Emporium, a variety of 10 Foschini Group brands, Ackermans Group, Mr Price Group, Dion Wired, Incredible Connection and Clicks.
Retailers such as Dis-Chem Pharmacy, Due South, Cross Trainer, Look & Listen, CUM Books, BT Games, Coricraft, Boardmans, Cape Union Mart, Old Khaki, Le Coq Sportif and the Jewellery Design Company will make their first appearance in the province when they take up space at the centre.
National retailers have enjoyed success in the Polokwane area due to many factors, which include the province's close proximity to neighbouring countries Botswana and Zimbabwe, the smaller mining communities scattered throughout Limpopo and the numerous government departments that are housed within the capital city.
“Local retailers are also aware of the numerous benefits that the new centre will bring to the area,” says Moolman, as the mall has also caught the attention of retailers in Tzaneen, Louis Trichardt and similar areas outside Polokwane, all of whom which are looking to expand their retail footprint.
“We anticipate that the centre will bring great growth to Polokwane as it will have a positive impact on the province's GDP,” remarks Johann Kriek of Resilient Property Income Fund. “We have the support of the community and the local government and in combination with our strategic leasing approach we feel that we will meet the needs of the shoppers.”
“Mall of the North is set to become the retail gateway of Limpopo. With the positive response from prospective retailers, the community and provincial delegates alike, the centre will encompass the vision of establishing Polokwane as the new emerging economic node of the country,” notes Flanagan. “Mall of the North has all the ingredients to ensure that the centre will take retail to new heights.”
