RETAIL: Bumper Year for Retail Developer with Three New Shopping CentresÂ
Recent Gauteng Business News
LEADING Gauteng-based retail property developers and investors, Flanagan and Gerard Property Development and Investment are set for a groundbreaking year with two successful shopping mall openings in the first half of 2017 and another scheduled for this August.
A quarter-of-a-million people shopped at the new world-class Springs Mall during its first 10 days of trading. It opened on 16 March to become the first regional shopping mall in the Ekurhuleni city of Springs. The R950 million two-level Springs Mall features a mix of 170 shops, restaurants and services, led by anchor retailers Woolworths, Checkers, Pick n Pay and Edgars. The 48,000sqm development saw a joint venture between Flanagan and Gerard, Blue Crane Eco Mall, Vukile Property Fund and Murinda Investments, part of the Giuricich Bros Group, with the mall’s overall vision inspired by the Springs-based D’Arrigo family.
Balilito shopping centre expansion
This was closely followed by Ballito Junction Regional Mall, a major expansion of the existing 10,000sqm shopping centre, which was transformed to an impressive 80,000sqm, to open its doors fully-let on the Dolphin Coast of KwaZulu-Natal on 23 March. Owned and developed by the consortium of Menlyn Maine Investment Holdings together with Flanagan and Gerard, Ballito Junction brings an array of comprehensive, quality shopping to the growing, diverse and flourishing consumers of Ballito and its surrounds, in 200 stores.
Paul Gerard, Managing Director of Flanagan and Gerard Property Development and Investment says, “the company’s latest developments were motivated by the long-term vision to provide exceptional shopping with every detail carefully considered to support trading success and relevance for each region’s residents”.
Viable shopping centres a hallmark of Flanagan and Gerard
Complementing the successful duo of Springs Mall and Ballito Junction is the eagerly awaited Thavhani Mall which will officially celebrate its grand opening on Thursday, 24 August. The 50,000sqm regional shopping centre will be the largest in the thriving town of Thohoyandou, Limpopo as well as the greater Thulamela Municipality with the introduction of a wide variety of retail firsts to the region, boasting over 134 shops, restaurants and service outlets.
Developing shopping centres which open fully let and on time has become a distinguishing hallmark of Flanagan and Gerard. “Springs Mall, Ballito Junction and Thavhani Mall each represent top quality shopping destinations in the appropriate location,” notes Gerard. “The benefits of these centres also go beyond this to support job creation in addition to long-term positive impacts such as keeping residents’ vital retail spend within the local economy,” he adds.
Business News Sector Tags: Retail|