Real Estate Investor Magazine South Africa December / Jan 2016 | Page 43

REI COMMERCIAL

EXPERT Q&A

R13M INVESTMENT IN URBAN RENEWAL AND GROWTH
FOR BROOKLYN, CAPE TOWN

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1 Koeberg Mall in Koeberg Road, Brooklyn, Cape Town, has opened its doors.
Mrs Betty Olla, the investor in the new development, which is worth more
than R13 million, was responsible for the planning phase and will oversee
the leasing and long-term management of the shopping centre. The property is
owned by the Olla Family Trust.
Located in the centre of Brooklyn, 91 Koeberg Mall is a major urban renewal
project that aims to strengthen the local Brooklyn economy by offering food,
beauty, fashion, fragrances, internet, cell phone, music and other retail outlets,
such as Lumiére Hair, Sound Select, Perfumes for Africa and French Confectionery
Bakery that will complement the existing retail offerings on Koeberg Road. The
children’s entertainment area in the entrance of the mall makes it a dynamic
and trendy destination for shopping. The mall will serve approximately 3 732
households accommodating the 10 941 residents of Brooklyn.
Benefitting from direct connections to Cape Town and the surrounding areas via
the My Citi bus service, the new shopping centre, which spans 1 217 sq metres,
offers a secure shopping environment with 24 hour security. Shoppers can relax
in the knowledge that at 91 Koeberg Mall the safety and comfort of shoppers is
a top priority.
The official opening of the mall today was officiated by the chairman of the
Brooklyn, Ysterplaat and Rugby Ratepayers’ Association (BYR RA) chairperson, Mr
Rudi Wolter; and Mrs Betty Olla.

Mark Souris
Managing Director Periscopic Masingita
Q

Q

What is the latest trend in tenant mixes?
Tenant mixes seem to be ever evolving, with a variety
of tenants constantly coming and going. This is
actually a benefit for shopping centres as there’s
always something new on terms of tenant mix and
as consumers tend to get bored quickly this draws
people back

Q

What trends are evident regarding stand-alone
stores?
The stand-alone store, such as fast food chains, big
brand convenience stores and supermarkets, as well
as newcomers international brands like Burger King,
is an area of significant growth. We’re seeing more
and more opportunities for stand-alone developments
– where one store occupies the entire building
rather than being part of a larger centre – and we’re
expecting to see a gain in momentum in this area.

Q

www.reimag.co.za

What current trends are evident in terms of largescale mall developments?
There has been no slowdown in growth. Development
in this sector has picked up significantly with quite
a few large centres being completed over the course
of 2014. Many of these are regional and superregional scale malls which can range anywhere from
50,000m2 to 80,000m2 and up

What should investors be looking at?
Potential investors should pay close attention to the
level of innovation a particular retail development
demonstrates. Look for centres that are consistent
in growth, evolution and refurbishment. This is the
only way for large commercial retail centres to stay
competitive in the current market.
DEC/JAN 2016 SA Real Estate Investor

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