BALFOUR Park shopping centre has received a new look with a R120m refurbishment by Investec Property, the centre’s owner and project developer.

The revamp of the 22-year-old centre is one of a number of projects being undertaken in line with Investec Property’s strategic approach to development.

Investec Property, a division of Investec Bank, operates across retail, office and industrial property sectors throughout SA and in the UK.

In the case of Balfour Park, Ronnie Sevitz of Investec Property says the centre’s refurbishing and reconfiguration was undertaken to meet consumer and retailer demand. Extensive evaluation was given to every aspect of delivery in planning the refurbishment.

All elements, from the physical structure to shopper flows and from tenant mix to community positioning, were considered in the project’s preparation.

The centre now offers about 36400m² of retail variety, served by free, secure parking, with anchor tenants such as Woolworths, Mr Price, Edgars, Checkers, Truworths, Foschini, CNA, Clicks, Ackermans, Milady’s and Markhams.

This is matched with a number of small boutiques and stores to refine and define the tenant mix.

The centre’s banking hall now offers financial services from SA’s major banks — Nedbank, Standard Bank, Absa and FNB. Capitec Bank also has premises in the centre.

Both internal and exterior areas have been revamped and given a fresher appearance with the introduction of contemporary stainless steel and glass, complemented by neutral tones.

The modernising of the centre has also allowed for improved energy efficiency and services, elevating the effectiveness, quality and economy of the centre’s daily operations.

The increased use of natural light in the centre is complemented by a lighting system that allows 30% energy saving with 100% more light in the parking area, using light-sensor units.

Standby generators with 100% redundancy are expected to ensure that the centre functions fully during a power cut.

Modern security cameras that overlook the entire centre and the parking area have been installed.

Balfour Park has also taken up arms against crime by combining resources with the local security scheme to ensure that the centre and its surrounding area are as free of crime as possible.

Sevitz says further plans are afoot for the centre. The possibilities include more restaurants and live entertainment, with retailers joining in the project by upgrading their own stores.

Sevitz says Investec Property is considering a number of retail projects in which its professional team can apply its specialist knowledge and experience to bring value to retail property.

Among these projects is an overhaul of the Checkers Hyper in Vanderbijlpark to create a relevant and modern retail destination, providing shoppers with new-generation specifications, which is being driven by the resurgence of development in the area.

“We are confident that good opportunities for retail projects exist in the South African market right now, both in the form of upgrades and expansions, as well as new developments,” Sevitz says.

Source: Business Day