Shoprite to develop Kynsna shopping centre.

Posted On Friday, 18 July 2003 02:00 Published by
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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
Streets.
The biggest tenant will be a Checkers supermarket, with its 3,000 sqm
supermarket.
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
Municipality.
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
areas.
I-Net Bridge

Publisher: Business Day
Source: Business Day

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