Value of two rural mall developments in Limpopo totals R300 million

Value of two rural mall developments in Limpopo totals R300 million

An artist’s impression of the new 14 000m2 Tibani Shopping Centre, to be built on the R564, about 60km from Polokwane.

Following the success of the Mahwelereng Shopping Centre, its first project with Pretoria-based GMI Property Group in Limpopo, Retail Network Services (RNS) is now working with the group on two new rural mall projects in the province worth a total R300 million.

The developments are set to benefit rural communities in Limpopo by bringing quality shopping to their doorsteps, creating jobs and helping to retain valuable spend in rural areas.

RNS – a full-service retail leasing and development specialist – has been brought on board to assist with the R150m revamp and expansion of Steilloop Shopping Centre and the development of the new R150m Tibani Shopping Centre.

“We worked with GMI Property Group on the development of the 13 000m2 Mahwelereng Shopping Centre, which has been a great success. With this success, we are now working with the group on two further developments in rural Limpopo,” says Gavin Tagg, managing director of RNS.

An artist’s impression of Steilloop Shopping Centre in Limpopo, which is undergoing a R150 million revamp and expansion.

An artist’s impression of Steilloop Shopping Centre in Limpopo, which is undergoing a R150 million revamp and expansion.

“The expansion of Steilloop Shopping Centre is driven not only by the performance of the centre, but demand in the town and from retailers. As part of the revamp, Shoprite’s USave store is being converted into a 3 500m2 full service Shoprite supermarket. The fashion component includes Pep and Ackermans, and other secured tenants include FNB, Fish & Chip Co, Zebro’s, Russells, Price & Pride Furniture, Furn 4 U, Post Office and Rebone Pharmacy.

“We are in discussion with other retailers and service brands to take up space in the bigger centre, such as Rage, Studio 88, Shoe Zone, Capitec, Lewis and OK Furniture to name a few,” says Tagg.

Steilloop’s extension will result in the mall’s store offering more than doubling, from 15 to 38 stores and service outlets. The first phase of the expansion will open in November, and the project will be completed in 2016.

Gerald Dross of GMI Property Group, says: “Both companies recognise the retail opportunities in rural areas, which are underserviced in terms of quality and greater retail offerings.”

The new 14 000m2 Tibani Shopping Centre is on the R564 regional road, about 60km from Limpopo’s capital Polokwane. It will be in a prime position next to a taxi rank, offering easier access to local rural communities.

Says Tagg: “Tibani Shopping Centre will be anchored by Shoprite and Cashbuild. The Shoprite store will take up about 3 500m2 of retail space. We are finalising the rest of the tenant mix, which will offer convenience shopping and a selection of fast food choices to locals. The centre will have about 40 stores to service a market of some 34 000 households.

“RNS has expertise in the development of rural shopping centres, where we see further tremendous opportunities. Beyond investment, these rural centres have a positive impact on rural communities and help to spur further investments and development in rural South Africa. It is great to work with groups like GMI Property Group to make such developments a reality and help change the lives of people in rural areas.”

Call Retail Network Services on 011 807 6995 or visit www.rns.co.za.

 

 

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