Southernwood may get second mall.

Posted On Friday, 10 January 2003 10:01 Published by
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An investor has offered to buy a group of houses in Southernwood earmarked for a shopping complex already named Monument Park.
By Ayanda Salayedwa

An investor has offered to buy a group of houses in Southernwood earmarked for a shopping complex already named Monument Park.

The complex, which would require demolition of some properties in King Street and St Mark's Road, would be about a kilometre from the Malcomess Park shopping centre built about five years ago.

An employee of the estate agents leading negotiations for the purchasing of the properties said that negotiations for the centre were at a critical stage. He spoke to the Daily Dispatch on the condition of anonymity.

He said the agency had been asked by an investor to facilitate the purchase of the properties. Nothing had been finalised yet.

The land earmarked for the development extends from St Mark's Road along Oxford Street to the war memorial just below the Buffalo City FET College but will exclude the Pest Master House and Studleigh, regarded as a heritage monument.

Speaking on behalf of one of the property owners, the Family and Marriage Society of South Africa, Carol Johnson confirmed that Famsa had been approached by the estate agents.

She said Famsa was still weighing its options about whether or not to sell because the property was easily accessible to its clientele.

She said the estate agents' proposal had been forwarded to the Famsa's committee for further analysis.

Other projects in the city earmarked for completion later this year include the Osner Group's multi-million-rand shopping complex along the Esplanade, and one in Mdantsane which is being built on the grounds of the dilapidated Civic Hall near Qumza Highway.

Local business interests are applauding the shopping complex boom.

South African Property Owners' Association chairman Mick Webb said with the city centre changing into a more institutional centre the rapid increase of shopping complexes should be expected to serve the surrounding communities.

Daily Dispatch


Publisher: Daily Dispatch
Source: Daily Dispatch

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