The refurbishment, which kicked off in August 2011, saw the popular mall get a full makeover that includes a refreshed tenant mix, rebranding, enhanced security and a contemporary look throughout. Owner, Redefine Properties, a property loan stock company listed on the JSE, invested R34.5 million in the three-phase project.
"Checkers remains our anchor tenant," explains group development manager at Redefine Properties, Mike Ruttell, "However we've expanded our offering to include Mr Price, Sheet Street, Bed Masters, African Bank and Capitec Bank amongst others."
He points out that existing tenants have played a key role in the refurbishment, updating their own stores and contributing in a dynamic way to the re-branded space. 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. "We are all excited about the fresh, modern feel with local stone, wood and natural light as key design elements."
As an investment, the refurbishment is paying off, as the first phase is fully let and generating a yield of 10.26%. He adds that leasing for the second and third phases is in full swing, with tenants such as El Sombrero Spur and a post office already signed up.
A Spin & Win Wheel will be available from today until Friday, from 10am to 12pm and from 3pm to 5pm. It will run on Saturday and Sunday from 9am to 1pm. The mall will run a grand prize draw on Saturday 3 November offering four prizes: iPad 3, Kindle DX, Aspire S3 Laptop or a year's reserved parking space. To add to the excitement and atmosphere of the day, East Coast Radio DJ, Peter G, will be doing the draw and playing music.
The mall has set up some great children's entertainment including stilt walkers, balloon sculpting, face painting, clown magic shows and a mime.
For more information, go to www.themallatscottsville.co.za.
