“It is also interesting to look at relatively old shopping
centres, which tend to have all the necessary services
required such as supermarkets, banks, dry cleaners,
a post office and the like, and because they are in a
densely developed and trafficked area, they continue to
thrive, such as Dunkeld West and the Valley Centre
in Craighall. However, it must be pointed out that
cost structures in respect of older centres tend to be
very different from cost structures of the newer or
refurbished centres, and this is also a contributing factor
to their success.
“A precinct may also arise from a particular
requirement, for example, a student accommodation
precinct has been created to cater for the requirements of
a young population in proximity to educational facilities,
such as in Braamfontein in Johannesburg and Hatfield
in Pretoria. It is critical for developers and financial
institutions to understand the nature of a precinct
before they commence planning. The aesthetics and
ambience of a precinct need to be considered as a whole.
For example, Johannesburg’s Main Street precinct
between the Magistrate’s Courts and Gandhi Square
was created out of a desire to preserve the value of the
office buildings in the neighbourhood - and so the street
was acquired by local landlords on a leasehold basis and
converted to a pedestrian mall. In St Georges Mall in
Cape Town’s CBD the landlords similarly came together
and formed a city improvement district,” says Reid. “In
addition, a precinct could be located at a mining town,
such as Burgersfort, but instead of in the town centre,
the precinct is developed on F?R?WG6??'G2?v?F?6????p?f6??F?W2?&W6?FV?F???B??F?R??w&VF?V?G2f?"&V6??7B??'WB??F?RW&??W'??bF?RF?v??( ?6?v?W&R&R??'GV??F?W2??v??v?FVBf?"F?P??FV?F??7&VF????b7V66W76gV?&V6??7C?&V?B6?0?G??6???Bv?V?B&R????v?G&ff?2???Rv?F?vV??p?'V??F??w2?v??6??fRF?R?FV?F??F?&R&VFWfV??VB???B?Bv?V?B&WV?&RF??6Rv?F?F?R6&??G??G&?fP??Bf?6???F???R?B?V?( 27V6?2'G2?????????&??V?r&V6??7B??wwr?&V??r?6?????( ?6??6?FW"??r''??7F???2Wf??fVBg&??&W6?FV?F???B?ff?6W2?BfW'?W?&?WB6????p??6V?G&RF????7B&V6??R4$B???G2?v??&?F'W&p??2?6???FW&W7F??r2?B?2Wf??fVB?WB?bG&?7?'B?V ??Bv?F?&WF???6???W&6???Bv?fW&??V?B?ff?6W2??0?&V6???r?W???FR?b?G2?v??( ?6?2&V?B??( ?6?GF???2???FW&W7F??r66R?????B?2F??0?&V?2v???rF?&?Vv???F?W"7?6?R???G2?fR???F?P??7BR?V'2?B?26VV?V?&V6VFV?FVBFWfV???V?@?'???FVB?V?&W"?bFWfV??W'2??F?R&6??b?7G&??rFV??BFV??B?'V??F??w2?W&RFV?BF??fR??fW7??b?R?V'2&Vf?&RF?W?&V6??RFFVB?@?&R&W?6VB??BvR&R6VV??r????W"??fV?V?@?v?F???6?GF??v?F?6?'?&FR?B?ff?6RFV??G0?&V??6F??r?W7BS?F?v?F?R&?BF?6V7W&R??&P???FW&??&??R66????FF?????( ?f?"W???R??W??FW"f?&&W2?2??fVB?W7BGv??&??6?2g&??#b7V&R?WG&R76RF?F?R6?P?6??R?ff?6R66????FF???6??'BF?7F?6Rv??F?P?&V6???2F?RG???72?bF?R&V?fR6??vVB??@?'W6??W76W27V6?2F?W6R&R?6?F?????rF?V?6V?fW0????Wr?&WGFW"V?G??ff?6W2??f???6??F?7G&?7B@??F?R( ?vFWv?( ?F?6?GF???B??6??6R&????G?F?F?P?vWG&??7FF????( ?&V?B6?2F??2?6?&?6W2F?RVW7F???2F?v?WF?W ?FWfV??W'2'V??B66?&F??rF??V6Rf?&?V?( 2F??FWfV???V?G2?fR?V6????2?fV7?6?R???vW"F????V'2?gFW"v??6?F?RFWfV??W'2F?V?????F?6V?????Bv?B??7B6?F??2?fR( 2?FV?F????VvF?fR??'V??F??r?"'V??F??w2v?F???&V6??7C???rF????Rf??BF?R?GFW#?F?Rf7B?2??R?2F?6???v?VFvP?F?Rf???6??V?FW'F?rv??6??2???"??f?VV?6P???F?R?fV7?6?R?b&V6??7B??BF?R7F?V???FW'0??"??F??&G2v?F???&V6??7B?fR??vV?V?@?&??Rv?F???F?B&V6??7B??76?&???F?Rf?&??b??&?fV?V?BF?7G&?7B?$U4?U$4U0?????6???W&6????F&???#0??P???