Shoprite to develop Kynsna shopping centre.

Posted On Friday, 18 July 2003 02:00 Published by
Rate this item
(0 votes)
Listed South African food retailer Shoprite (SHP) on Friday announced a new shopping centre development in the heart of Knysna's business district in the Eastern Cape.
Listed South African food retailer Shoprite (SHP) on Friday announced a new
shopping centre development in the heart of Knysna's business district in
the Eastern Cape.
The joint venture project with the Municipality of Knysna enables the
supermarket group to render 6,600 square meters of lettable space and an
additional 400 parking spaces in city centre.
The business development project follows a tender awarded to the Shoprite
group in November 2002 for the construction of a shopping centre and
multilevel parkade off Rawson Street on Stands 5157, 7608 and 7609 in the
Knysna Business Hub.
It is envisaged that Shoprite will commence with construction of the centre
during the first quarter of 2004 and to this effect a rental contract for
the development site was signed with the Council of the Municipality in
Knysna today.
The rental agreement serves to formalise the rights, which were afforded to
Shoprite in terms of the awarded tender and entitles Shoprite to commence
with development of the property.
Due to the character and profile of the commercial development, the creation
of additional trade space to Knysna will offer national retail traders, who
currently do not enjoy exposure in the Knysna district, the opportunity to
acquire retail space in the area.
In line with the tender proposal, the centre design will revolve around an
indoor mall concept with line shops facing Nelson-, St George and Rawson
The biggest tenant will be a Checkers supermarket, with its 3,000 sqm
Additionally, the new Checkers store will be complemented by the line shop
component, made up mainly of national tenants and comprising a floor area of
about 3,600 sqm.
This development is in line with Shoprite Checkers Properties' regional
expansion programme, and was planned in close consultation with the Knysna
Apart from the obvious advantage that 400 additional parking spaces will
offer in the Knysna business hub, the erection of a parkade will also aid
greatly in alleviating the current traffic congestion and better the town's
flow of traffic.
A direct spinoff from a commercial development of this magnitude will be to
strengthen Knysna's business hub, whilst combating the decentralisation of
retail opportunities and subsequent displacement of capital to neighbouring
I-Net Bridge

Publisher: Business Day
Source: Business Day

Most Popular

53 Telkom properties coming up for auction

Mar 02, 2020
Orange Grove
GoIndustry DoveBid SA (GoIndustry) is hosting another massive property auction on behalf…

Balwin's Munyaka registers record R850 million in opening weekend sales, selling 555 apartments

Mar 09, 2020
JSE listed Balwin Properties, a developer that cares about environmentally responsible…

Young buyers driving residential property market in Bloemfontein

Mar 04, 2020
Bloem Willows
Bloemfontein is experiencing a surge in residential property transactions concluded by…

Fairvest Property Holdings maintains above-inflation growth in challenging market

Mar 02, 2020
Darren Wilder CEO Fairvest Property Holdings
Fairvest Property Holdings Limited (“Fairvest”) today again announced solid results for…

Hyprop bolsters Rosebank Mall offering through securing the Checkers Premium FreshX concept

Mar 04, 2020
Rosebank Mall
Shoppers at Rosebank Mall in Johannesburg can look forward to a world-class supermarket…

Please publish modules in offcanvas position.