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News article

Retail Properties to Let

Published: 17 April 2018

Retail Properties to Let in Prestigious Cape Town Malls

 

You will appreciate our property portfolio if you are looking for retail properties to let in malls with high levels of shopper traffic. We briefly introduce two of our flagship shopping centres in Cape Town where, from time to time, you will find retail properties available to let.

 

Blue Route Mall

 

Few shopping centres can boast such a breathtaking view as the Blue Route Mall, located in Tokai, Cape Town. With its distinctive glass architecture, the mall features ample natural light, making it very appealing to visitors. If you are looking for retail properties to let in a modern shopping mall, consider the 55 501 m2 shopping centre on the foothills of the Constantiaberg. Visitors to the shopping centre can admire the lush green scenery visible from the mall. Though the mall has a history dating back to the seventies, it has been revamped and changed over the years to ensure that it stays trendy and up to date. The glass architecture is one of the modern characteristics of the mall. The centre has over 120 tenants, providing for ample shopping opportunities and thus more reasons to visit the shopping centre on a regular basis.

 

Contemporary architecture has also been applied in the design of facilities such as the unisex parent-child bathrooms and electronic directories. With its distinctly upmarket character, the mall caters to the shopping needs of the upper socio-economic groups. Most of the shoppers come from the Living Standards Measure (LSM) 9-10 and 7-8 income groups, with 58% of them being female. The majority of shoppers come from the 36-46+ age group, with shoppers in the age bracket of 26-35 making up 26% of the audience. If you are therefore in the market for retail properties to let in the affluent areas of Cape Town, you will do well to enquire about available space in the Blue Route Mall.

 

Stable anchor tenants, such as Woolworths, Ster-Kinekor, and Checkers Hyper, along with leading fashion retailers, such as Edgars, Forever New, and Old Khaki form part of the tenant mix. Other noteworthy tenants include Mr Price, Foschini, Queen of Steel, King Cake, and Outdoor & Velocity, amongst others, which help to attract regular visitors to the mall. The major South African banks, including FNB, Standard Bank, Bidvest Bank, Nedbank, Capitec, and Absa also rent retail space in the shopping centre. Partly thanks to its location just off the M3, and partly because of its modern and elegant interior, the Blue Route Mall continues to be a popular shopping centre in Cape Town. It boasts an annual foot count of 8 188 371 (2015 figure) with 120 000 vehicles counted for the same period in the open and undercover parking areas.

 

Kenilworth Centre

 

If you are looking for retail properties to let in a well-known shopping centre, Kenilworth Centre should be high on your list of priorities. It is one of the best known and most established shopping centres in Cape Town. The mall has a history dating back more than 40 years, giving it a loyal visitor base. With 48 947 m2 of retail space, it offers a wide range of shops for the ultimate shopping experience. The mall was recently upgraded to include another 5000 m2 of shopping enjoyment and additional parking. It offers a dynamic shopping environment that is both elegant and trendy.

 

Shoppers come mostly from the middle to upper socio-economic income groups, with the majority falling within the LSM 7-10 income category. The majority of shoppers are English-speaking, with just over 50% coming from the mall’s 5-km catchment area. Only 16% of the shoppers make use of public transport, with 79% of the shoppers having their own vehicles. Brands such as Pick n Pay, Edgars, Virgin Active, Woolworths, and Checkers occupy the anchor retail spaces to let in the mall. As such, you can expect stability in visitor numbers. The mall is located close to Main Road (M4), which runs all the way from Cape Town’s CBD to Simon’s Town. The mall has an annual foot count of 10 191 910 (2015).

 

Whether you are looking for retail properties to let in Cape Town, Johannesburg, Pretoria or any other large centre in South Africa, you will appreciate the quality of properties on offer through Redefine.

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