Optimal tenant mix for revitalised Blue Route Mall

Posted On Wednesday, 21 July 2010 02:00 Published by
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The Broll managed Blue Route Mall shopping centre built in 1975, located in one of Cape Town’s most beautiful suburbs, Tokai, is undergoing an exciting R850 million redevelopment

This exciting redevelopment was planned following extensive research. Blue Route Mall is owned by Fountainhead Property Trust and the innovative Blue Route Mall redevelopment project will also benefit from the expertise of leading South African property services company Broll, which manages this popular shopping centre. The refurbishment and extension will create a modern centre that will boast the best in retail and dining with a design that showcases splendorous mountain views. The new look centre is scheduled for completion in April 2012.

Broll is tasked with managing the centre as well as ensuring an optimal tenant mix. “This magnificently located shopping centre, currently offers incredible potential for its shoppers, retailers and its owners, and this project is geared towards unlocking this potential,” Says Tirzah Myers, Broll Retail Manager.

A multi-disciplinary property services company with nearly 35 years in the property industry, Broll has played an active role in negotiating the leases for the Blue Route Mall extension, bringing an increased sense of energy and vitality to the centre and ensuring its tenant mix remains relevant and appealing to today’s consumer.

Blue Route Mall in Tokai has always enjoyed an exemplary trading record, spanning from its establishment in the 1970’s when it comprised a strip of 10 shops, to its expanded 48,000sqm today.

“Blue Route Mall’s upgrade and the addition of a further 8,000sqm of retail space is opportune to ensure it adequately meets shoppers’ needs, with modern design principles offering many advantages, including a more sustainable and greener approach to building. It makes sense to enhance the value of this unique asset which has an excellent following of loyal shoppers,” says Myers.

Once complete, Blue Route Mall will feature 56,000sqm of premier shopping, including national retailers and original and franchised restaurants and coffee shops.   According to Myers, tenants will span across a wide range of shoppers’ favourites, including fashion and accessories, home decor, electronics and entertainment.

“In addition, a brand new, much bigger Ster-Kinekor complex will offer the latest movies, and many restaurants in a dedicated food court will take advantage of Blue Route Mall’s breathtaking location with panoramic views from balconies and generous windows, providing the ultimate leisure experience” says Myers.

Other popular retailers include a 5,500sqm double-level Woolworths and a 4,000sqm Edgars. In addition, Broll is in negotiations with other popular retailers who have yet to debut in the area.

“Broll will ensure that all owner’s and tenants’ requirements are served efficiently, including leases, occupation dates, administration and other retail property requirements. Due consideration will also be given to shoppers’ immediate needs and for longer-term prospects.”

In the interim, Broll is challenged with ensuring that the mall remains fully functional during the redevelopment and, with the first phase of the project already underway, its business as usual at Blue Route Mall.

Broll is a multi-disciplinary property services company with over 35 years experience in the property industry.  Its services include property, shopping centre, utilities and facilities management as well as sales, leasing, valuations, retail consultancy, corporate real estate advisory services, research and investment services to the retail, commercial, industrial and investment markets.

The company has an impressive list of clients including the properties of South Africa’s leading property owners such as Fountainhead Property Trust, Retail Africa, Pareto, Atterbury Property, Growthpoint Properties Limited, Sasol Pension Fund, Resilient Property Income Fund and Keystone Investments. Landmark properties under management for Fountainhead Property Trust include Centurion Mall in Pretoria, N1 City in Goodwood, Kenilworth Centre and The Boulders Shopping Centre in Midrand.

Publisher: eProp
Source: BPG

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