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Pietermaritzburg’s Scottsville Mall celebrates its new makeover
Pietermaritzburg’s Scottsville Mall celebrates its new makeover

Pietermaritzburg’s Scottsville Mall celebrates its new makeover

FMCG SUPPLIER NEWS

SA Commercial Prop News - Oct 29th 2012, 08:18

The Mall at Scottsville on Pietermaritzburg’s busy Durban Road revealed its new look to shoppers today with the 8,500m² first phase of its extensive revamp. 

The much-anticipated refurbishment – which kicked off in August 2011 - saw the popular mall get a full makeover that includes a refreshed tenant mix, re-branding, enhanced security and a contemporary look throughout.

Owner Redefine Properties, a property loan stock company listed on the JSE, invested R34.5 million in the three-phase project.

The mall is superbly situated on the main arterial into Pietermaritzburg from the east, and the Pietermaritzburg campus of the University of Kwazulu-Natal is right on its doorstep.

“Checkers remains our anchor tenant,” explains Group Development Manager at Redefine Properties, Mike Ruttell, “However we’ve expanded our offering to include – among many others – Mr Price, Sheet Street and Bed Masters as well as African Bank and Capitec Bank.”

He points out that existing tenants have played a key role in the refurbishment, updating their own stores and contributing in a dynamic way to the re-branded space.
The first phase includes a full redesign of the common areas, an extensive security upgrade and a new, contemporary look.

The second and third phases will focus on expanding and diversifying the tenant mix.

“We are all excited about the fresh, modern feel with local stone, wood and natural light as key design elements,” he says.

As an investment, the refurbishment is paying off.

The first phase is fully let and generating a yield of 10.26%.

Ruttell adds that leasing for the second and third phases is in full swing, with tenants like El Sombrero Spur and a post office already signed up.

By SA Commercial Prop News  

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