Randburg Retail Properties2018-02-20
Classification of Randburg Retail Properties
If you are looking for Gauteng-based retail properties, whether in Randburg, Centurion, Germiston, or Boksburg, we recommend sending us an email describing your requirements. To get you started in finding suitable Boksburg, Germiston, or Randburg retail properties, let us look at the terminology you will encounter looking for relevant shopping centres.
It refers to features and special benefits of a property. You will want to consider the amenities offered by the relevant retail properties, including proximity to main transport routes and available parking.
When it comes to retail properties, there is a hierarchical arrangement of shopping centres. The low-order, small grocery store is at the one end, with a neighbourhood centre also offering low-order facilities and perhaps a few higher-order facilities, such as household or clothing retail stores, a level up. Department stores and specialised retail stores are normally to be found at centres on the regional level.
These types of retail properties are focused on the provision of stores with the aim of offering convenience. Normally, a well-known food anchor client is the main attraction in the centre, and the centre developers aim to provide sufficient and conveniently located parking space. The centre is usually located to provide easy access to surrounding areas and the retail property is focused on the provision of retail facilities on a suburb level. The centre normally attracts visitors within a 2-km range, while it may be possible to intercept passing traffic from or to neighbouring suburbs. It may also be located on a main collector road in the specific larger suburb of, for instance, an area like Randburg. Travelling time to and from such retail properties is usually no more than nine minutes. The average dwelling time at such retail properties in Randburg is estimated to be between 30 and 35 minutes.
These Randburg retail properties fill the gap between the neighbourhood and regional shopping centres. Community centres have a wider tenant mix than the smaller neighbourhood centres and service more households. However, these retail properties are not large enough to offer the full range of retail stores normally available in regional centres. The number of stores in such centres range from 50 to 100, with the sizes of the centres normally being between 12 000 and 25 000 m2. These centres are accessible from various suburbs and are located on main arterial roads. The average travel time to such retail properties in Randburg is typically between five and 15 minutes. A large supermarket group and well-known clothing brand, in addition to a wide variety of retail stores, would be offered at such a community centre.
Small Regional Centres
Also referred to as large community centres, such retail properties serve to meet the shopping needs of a larger community with a balanced tenant mix. A wider variety of stores, more stores, and larger gross lettable area (GLA) are characteristic of such retail properties, also in Randburg. The GLA is normally between 25 000 and 50 000 m2, with an average of 75 to 150 stores, and the median traveling time to such Randburg retail properties being between nine and 16 minutes. Comparative shopping is made possible because of the wider range of retail stores.
The regional centres focus on the fulfilment of shopping needs of people from their primary and secondary catchment areas. The Randburg retail properties in this group normally have many people working at the centres. Characteristic of such centres is the extensive entertainment offering, ensuring longer shopping hours, with families also visiting the centres during the evenings. These types of Randburg retail properties offer an extensive range of shops, with numerous large anchor tenants, ample parking space, good security, and central location on arterial roads. The median travelling time to regional centres is between 14 and 20 minutes. The focus is destination and comparative shopping.
Super Regional Centres
Such Randburg retail properties are focused on the provision of retail shopping offerings for an entire metropolitan area or an extended region. The visitors are local, national, and international with support from all parts of the city. The latest retail concepts are offered, with the GLA normally more than 100 000 m2, with more than 250 stores.
Call on our consultants to help you determine which of the Boksburg, Randburg, Midrand, or Centurion retail properties in our portfolio have the space you need, and target the desired market.