Commercial Property News South Africa

New shopping centre breaks ground in Vosloorus

In the third quarter of 2013, construction will begin on the new 10,329 sqm shopping centre, Vosloorus Plaza in Vosloorus, south of Boksburg in Ekurhuleni Municipality. It is scheduled for completion in July 2014.

Situated on a prime location, opposite the busy Chris Hani Crossing, the anchor tenant, SuperSpar will occupy 2875 sqm, surrounded by convenience shopping for the highly populated townships and surrounding areas, which include Katlehong to the east.

Romy Altmann, retail broker for JHI Properties, says, "Vosloorus Plaza is developed by iKwezi Development Trust at an investment of approximately R100 million. It is designed for quick access to the supermarket and line shops alike. With value for shoppers a key focus, other tenants include Build Rite building supplies, Fair Price, PEP Stores, Cash Crusaders, several fast food outlets and fashion and furniture tenants."

The architects, Venter Human and Strydom, describe the design of the single storey centre as simple with a lean-to roof walkway to the front of the parking area and easy access to and from walkways and parking bays. There will be key feature elements to the main anchor shop entrances that will provide signage opportunities and visibility to the centre from the main roads. There is on site parking for 389 vehicles.

Adds Kieron van Rooyen, also a retail broker for JHI Properties, adds, "With high trading densities in the surrounding areas, coupled with the convenience and value offering, there is a big demand for a centre such as this. While dependent on size, the rental rate for the remaining space is approximately R100 per square metre."

Let's do Biz