Current
share price Loading...
Opening
share price Loading...
Movement Loading...
•••

News article

Retail Space to Let

Published: 21 May 2020

Retail Space to Let in Shopping Malls: Our Centres Meet Your Requirements

 

When it comes to retail space to let opportunities, it is best to select the store that meets the following requirements:

 

  • Location within a mall that boasts a high traffic count.
  • Retail space in a mall where numerous marketing and exhibiting opportunities exist.
  • Mall that is close to main routes and easily accessible.
  • Mall with reasonable trading hours.
  • Superb tenant mix with stable food anchor tenants.
  • Wide variety of stores to attract a wider group of people.
  • Affordable rent and reasonable lease terms.
  • Sufficient information available to make an informed decision about the retail space to let.

 

Traffic count is still the priority element to consider when looking for retail space to let. However, it is imperative to work with detailed data provision regarding traffic in front of the mall site, not traffic counts for a site which is located a few kilometres away. The disposable-income demographic information is just as important. You want to know how much money the shoppers have left after having paid essentials, as this will give you an indication of what percentage of their income they can spend at the mall.

 

Consider the other tenants in the mall. It doesn’t help you look at retail space to let in a shopping centre where the tenants are so diverse that it makes shopping difficult for the visitors. Stores that support each other should be clustered. In a mall situation, having more than one clothing store can be beneficial for the tenants. The same goes for having more than one bank or furniture store, restaurant, or fast-food outlet. It is essential to have a food grocer as one of the anchor tenants to ensure visitors have reason to often shop at the centre.

 

You will notice that our malls meet all the requirements mentioned and you can thus select one based on your square metre requirements, demographic factors, and rental budget when you look for retail space to let. To give you an indication of what you can expect from our retail space to let offerings, we briefly introduce one or two malls in our portfolio.

 

Wonderboom Junction in Pretoria

 

Located at the foot of the Magaliesberg mountain range and on the banks of the Apies River, the mall caters to the shopping needs of families. With its solar plant on the roof, it generates 10-15% of the electricity used by the mall.

 

It is a favourite among families with its many entertainment offerings, which include the children’s play area. Pick n Pay, Woolworths, and Dis-Chem are among the anchor tenants. From an Intercare medical facility to Ocean Basket and Cappuccino’s form part of the tenant mix.

 

The mall has 67 tenants and has ample parking. It has a GLA of 42 706.47 m² and boasts an annual foot count of 5 701 760.

 

Park Meadows in Kensington, Johannesburg

 

The community shopping centre with an array of lifestyle retail offerings has a tenant mix that includes the likes of Pick n Pay, Food Lover’s Market and Dis-Chem. It is also home to a range of speciality stores, restaurants, fast-food outlets, and fashion retailers. The mall has a GLA of 29 948 m² and has 58 tenants. The annual foot count to the centre comes to 5 200 000.

 

The Boulders Shopping Centre in Midrand

 

If you are looking for retail space to let in an iconic shopping mall, then consider this 46 632 m² mall in the CBD of Midrand. With larger than life rock boulders in the centre of the mall, it offers a unique shopping environment for the people from Midrand. The mall has 24-hour security, features such as three hours of free uncapped Wi-Fi for shoppers, and a tenant mix that includes Pick n Pay and Mr Price among many others. With 102 tenants, the mall can cater to a wide range of shopping needs. It boasts an annual foot count of 12 500 000.

 

The mentioned centres are only a few examples of malls in our property portfolio. With centres such as Centurion Lifestyle Centre, Centurion Mall, Blue Route Mall and Langeberg Mall part of the impressive portfolio, we offer exceptional retail space to let. View our range of malls and get in touch for more information on retail space to let opportunities.

MENU