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News article

Retail Space to Let

Published: 17 April 2018

Where to Look for Retail Space to Let in South Africa

 

One of the most important considerations when looking for retail space to let is foot traffic count. Another is location, whilst a third not to be ignored is that of audience. Of course, the reputation of the retail centre, available parking, security, and centre marketing must also be considered when searching for retail space to let. At Redefine, we take the time to understand tenant requirements. As such, we ensure that the shopping centres in our portfolio are modern and well marketed. In addition, we upgrade the malls periodically. We briefly discuss some of the shopping centres in our portfolio, but recommend downloading our brochures for more information, or to give us a call if you are looking for retail space to let in a centre that meets your needs.

 

Matlosana Mall in Klerksdorp

 

If you are looking for retail space to let in a busy mall in the North West province, consider the features of Matlosana Mall. Its modern design makes the mall stand out, and it has a family-friendly ambience that adds to its popularity. It has the diversity required to ensure regular visitor traffic. The mall includes everything from entertainment for the entire family to restaurants, fashion stores, grocery stores, and speciality retailers. With it being very busy, retail space that is available to let may be in short supply. As such, we recommend calling our consultants to enquire about space, or to at least reserve retail space for your business in future. The 65 000 m2 mall houses leading national brands, sports goods retailers, and banks. It is a premier shopping destination in Klerksdorp.

 

The audience consists of shoppers from the Living Standards Measure (LSM) 7-9 (39%) and LSM 10 (39%) income groups, with a small portion of shoppers coming from the LSM 5-6 income group. The audience is made up of Afrikaans, Tswana, and Sotho shoppers, with a median household income of R15 000-R20 000 per month. The shoppers consist of families, mature shoppers, and singles. The mall has 120 tenants, giving shoppers the variety they need for a high-value shopping experience. Major grocery brands include the likes of Checkers, Pick n Pay, and Woolworths, with leading fashion brands including Mr Price, Edgars, Miladys, Queenspark, Foschini, and Truworths. Other brands renting retail space in the mall include companies such as House & Home, Virgin Active, and Toys R Us. Various fast-food outlets form part of the tenant mix as well.

 

The shopping centre boasts a superb location, with excellent signage visibility from the N12 highway. It stays open until 19:00 on weekdays, giving shoppers more time to shop after work. Of course, this also benefits retailers, as the longer shopping hours mean more time to generate income. The mall is open until 17:00 on Saturdays and 15:00 on Sundays and public holidays. Extended shopping hours during the Easter and festive seasons also help retailers to generate more business. The trading density comes to R13 946/m2, with the average foot count during peak periods at 450 000, and up to 500 000, and the car count calculated at 195 000.

 

Golden Walk Shopping Centre in Germiston

 

If you are looking for retail space to let in the heart of Germiston CBD, with the main audience being commuters to and from work, the exceptionally neat and easy-to-navigate Golden Walk shopping mall is the answer. It is a single-level mall covering 45 123 m2. The mall caters to the shopping needs of commuters through the CBD and thus includes a variety of tenants. Shoppers come mostly from the LSM 5-6 income group, with the majority of regular visitors being female, while male shoppers make up about 22% of the shoppers. Most shoppers are in their full-nest lifecycle phase, with shoppers speaking mostly Xhosa, Pedi, and Zulu. The mall features 20 exhibition courts, giving tenants many opportunities to market their products in areas with high foot traffic in the mall. The mall also boasts parking areas that can be used for larger events. The centre has a Facebook page and a website. With an annual total of 1,2 million shoppers, you are assured of high volumes of foot traffic throughout the year.

 

The above are but two of our flagship malls where you can enquire about retail space to let. Let our consultants assist you to find a location at one of our properties to meet your particular retail requirements.

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