FOSCHINI GROUP PICKS GATEWAY TO BOOST PRESENCE IN KWAZULU/NATAL

Posted On Wednesday, 16 April 2003 02:00 Published by
Rate this item
(0 votes)
The Foschini group is to expand its presence in the KwaZulu/Natal market by opening five stores in Gateway Theatre of Shopping, the retail and entertainment complex at Umhlanga.
The Foschini group is to expand its presence in the KwaZulu/Natal market by opening five stores in Gateway Theatre of Shopping, the retail and entertainment complex at Umhlanga.
 
Foschini group property director Neville Budge said the decision to open in Gateway was prompted by the rapid growth northwards of the greater Durban area.
 
“Group stores in the province are doing well,“ says Budge. “We see an opportunity to build on that performance through a presence at Gateway which is a focal point of the new growth area and will establish itself as a strong regional destination. Research indicates the increased office, residential and commercial development in the node surrounding Gateway is likely to boost spending from the primary trade area.”
 
The stores to open at Gateway by October will be Foschini, Donna Claire, the RJL division of Markhams,  Sport Scene and Totalsports.
 
Budge says the Foschini group is also considering Gateway for other brands, but a decision will depend on suitable locations within the centre.
 
Other chains are negotiating to join Foschini, Woolworths, Truworths, Mr Price and Ackermans  among JSE-listed national fashion and leisure wear retailers at Gateway, says Brent Wiltshire, retail property executive of Old Mutual Properties, the developers of the centre. Other major brands there are Hyperama and Spar.
 
He says the interest in Gateway from retailers not yet represented there reflects the fact that the complex is now clearly coming into its own as a super regional centre offering more than just a shopping experience.
 
“Spending at Gateway increased from R560 in December 2001 to R845 per visit in December 2002, largely through bigger outlays on clothing, groceries, restaurants and entertainment. “
 
Gateway which has more than 40% of its area devoted to entertainment, has attracted more than 25 million visitors since opening in September 2001.  According to recent research, they spent an average of 181 minutes at Gateway, and its range of shops and leisure and entertainment attractions which includes South Africa’s most popular movie destination.
 
Ends  
 
 
ISSUED FOR Old Mutual Properties
BY Michael Kerkhoff & Associates
ENQUIRIES Brent Wiltshire 021 - 530 4586
                      Neville Budge 021 - 938 1911
                      Mike Kerkhoff 021 - 424 5280

Publisher: Old Mutual Properties
Source: Michael Kerkhoff & Associates

Most Popular

Five things you need to know about the repo rate

Jan 28, 2021
Carl_Coetzee_BetterBond_CEO
The South African Reserve Bank has just announced that it is holding the repo rate…

SA REIT Association - Chairman's message and 2021 sector outlook

Feb 02, 2021
Estienne de Klerk_Chairman of SAREIT
Real estate has long been a rewarding sector of the financial markets. Like all sectors,…

It’s cheaper to buy than to rent a home in 2021

Feb 08, 2021
Carl_Coetzee_BetterBond_CEO
If the past year has taught us anything, it is how important our homes have become to us.

Thavhani City set for more growth in 2021 as its Motor City and medical developments accelerate

Feb 15, 2021
Thavhani_City_Locality_Layout
Thavhani City mixed-use urban precinct in Thohoyandou, designed to be the future economic…

Brand new residential development in La Lucia 60% sold through Pam Golding Properties

Feb 15, 2021
Kent_Exterior
Such is the consistent high demand for centrally located, well-priced residential…

Please publish modules in offcanvas position.