Investec backs Nicolway Bryanston Shopping Centre

Posted On Wednesday, 22 February 2012 02:00 Published by Commercial Property News
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Despite questions by some over its trade area, the new centres proponents cite the anticipated strong growth in the local office market which could expand to 1,000,000m2 over the next 10 years.

Nicolway Bryanston Shopping CentreIn a landmark transaction Investec Private Banking has provided funding to The Rodrigues Group to develop the chic new R500 million Nicolway Bryanston Shopping Centre.

The stylish 23,000sqm Nicolway Bryanston, with excellent visibility and access from William Nicol Drive, gains maximum benefit from its superb location. Its upmarket, trendsetting shopping experience for the well-off consumers in the area will feature a unique tenant mix of some 90 shops.

“Investec enjoys a long-standing relationship with the Rodrigues Group. We are confident Nicolway Bryanston ticks all the right boxes for a commercially and financially viable scheme,” says Richard Towell of Investec Private Banking Property Finance.

Nicolway Bryanston owner Martin Rodrigues of The Rodrigues Group says: “The Rodrigues Group is proud to be associated with Investec Private Banking. It is through excellent partnerships, like our affiliation with Investec Private Banking, the Rodrigues Group can create the exceptional retail asset that is Nicolway Bryanston. We’re confident that our relationship with Investec Private Bank will continue to grow in the future.”

Our team partners with high net worth clients with a good track record in property development. “Projects like Nicolway Bryanston Shopping Centres assist in building a book of quality assets,” explains Towell.

Towell notes the experience and exemplary track record of the developer, Flanagan & Gerard Property Development and Investment, and the professional team in similar projects, and the strong support of quality tenants, are both favourable signs of the long-term sustainability of the shopping centre.

The support of quality tenants for Nicolway Bryanston had a significant influence on our decision to fund the development, points out Towell.

The enviable retailer line-up at Nicolway Bryanston is lead by an extraordinary foundation of national food retailers. This includes a 3,200sqm new Woolworths Supermarket concept store, a 3,400sqm Checkers and a 2,500sqm Food Lovers Market.

“Preletting the shopping centre to a high percentage of anchor and national tenants is a critical factor,” says Towell. “The mix of restaurants and line shops however are also important in ensuring a balanced service offering to the community.”

The Rodrigues Group appointed Flanagan & Gerard to lease this unique shopping centre.

“Nicolway Bryanston is developed and tenanted to deliver conveniently stylish shopping,” confirms Patrick Flanagan of Flanagan & Gerard. “The powerful mix of anchor tenants and hand-picked unique retailers delivers all the ingredients for good living to the discerning shopper.”

As a defining factor for its retail success, Towell points out that Nicolway Bryanston is ideally situated off William Nicol Drive with prime exposure to dense and regular traffic. It’s positioned to serve households east and west of the development, as well as major offices in the area. “It’s a large residential and commercial node, mainly serviced by retail outside the area,” notes Towell. “The strong demand from anchor and national tenants is testimony to the big ‘gap’ that exists for this retail.”

He points to a demographic study of the area which shows a 7+LSM. “This provides a positive picture of the potential disposable income from the consumer side.

Trade Area:

The primary trade area encompasses the residents of Bryanston, Douglasdale, Jukskei Park, Morningside, Paulshof, Petervale and the other surrounding suburbs. William Nicol Drive serves as a major arterial for residents from Fourways and beyond into the Sandton CBD. The site is strategically located in a high LSM area surrounded by the Bryanston commercial node. The Office node is showing strong growth and likely to expand to 1,000,000m2 of area over the next 10 years. Large volumes of traffic use the William Nicol off ramp from the N1 as their access into and out of Sandton.

“We’ve always been confident that Nicolway Bryanston has the features needed to be a first-rate asset – to its community, retailers and owners,” says Rodrigues. “With strong fundamentals in place it has attracted excellent backers, professionals and an unparalleled tenant mix”.

The centre opens on April 26, 2012

Publisher: eProp
Source: RG

Last modified on Monday, 10 June 2013 21:54

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