Makro set to open first Free State store this year

Makro set to open first Free State store this year

Artist’s impression of Makro first Free State store, which is due to open in Bloemfontein in October.

The first Makro store in the Free State province is due to open its doors in Bloemfontein in October.

The new Makro store, to be developed by The Moolman Group, will be on the western side of Bloemfontein, at the junction of the N8 towards Kimberley and the N1 freeway. The site is about 5km from the Bloemfontein CBD and 4km from Langehoven Park with easy access from Bloemfontein and the surrounding areas, while remaining close to all amenities in the city.

The building will have a gross lettable area of 17 049m2, and will consist of a typical Makro store layout incorporating retail warehousing space, an open floor or trading area, a separate liquor store, a butchery with chillers, and various other specialty departments, including technology, multi-media, outdoor and an office supplies.

Although this exciting development is the fifth Makro development being undertaken by The Moolman Group, it marks the beginning of a new partnership between this developer and Nedbank Corporate Property Finance, which is providing the R170 million finance required for the completion of the project.

In addition to the four Makro developments (Wonderboom, Silverlakes, Vaal and Polokwane) completed recently, The Moolman Group’s portfolio of completed developments include Mall of the North in Polokwane (developed in partnership with Resilient Property Fund and Flanagan & Gerard), Newpark Centre in Kimberley, Cosmos Centre in Bethal, Bedworth Park in Vanderbijlpark, City Centre in Polokwane, Magaliesview in Rustenburg and the soon-to-be-completed Middelburg Mall in Mpumalanga. The group was founded as a family business in Pietersburg in 1967 and now owns and manages property portfolios in seven of South Africa’s nine provinces.

Ken Reynolds, Gauteng regional executive for Nedbank Corporate Property Finance, says the new Makro store is being developed as a freestanding building on the crossing between two major national highways, with 840 open parking bays, and could become a destination centre in its own right, drawing shoppers from Bloemfontein and from all over the province and from neighbouring Lesotho.

“This development is an encouraging indication of the economic development in Bloemfontein, located along a residential growth point on a site with excellent exposure given its prominent position,” says Reynolds.

There are 16 Makro stores around the country. Makro is the trading name for one of the trading divisions of Masstores (Pty) Ltd, a subsidiary of Massmart Holding Ltd. Massmart is a listed company that was recently acquired by the US giant Wal-mart. The professional team managing the new Makro development in Bloemfontein consists of professionals who have completed 14 previous Makro developments.