ABOUT three years ago prospects for the Lakeside Mall in Benoni looked
bleak, with a number of vacancies as confidence in the mall slumped.
But management's focus on getting the right tenant mix and regular shopper
research have turned all that around, says centre management.
Lakeside Mall has reconfigured its leasing and tenant mix, securing more
than a dozen new leases in the process.
Foschini, @ Home, Sheet Street, Red Square, Milady's, Pep, Hang Ten, King
Pie and East to West Shoes are among the retailers that have either taken or
will be taking premises at the shopping centre.
Lakeside Mall GM Jacques Mizen says that once Investec took over the
management of the centre, better procedures were put in place.
"We looked at all the vacancies, brainstormed and pinpointed the right
tenants for the right spaces in the mall. We wanted to ensure the public was
happy and that the tenant mix was correct."
He says research was conducted with shoppers "from all walks of life".
The leasing and reconfiguration project, which will be completed in
December, has seen the number of visitors passing through the mall each
month increase by between 150000 and 250000.
Laetitia Steynberg of Investec Property Group says: "Getting the right
tenant mix is vital for the success of any shopping centre and needs to be
given continuous top priority.
"Tenant mix should be constantly evaluated and adjusted to meet market needs
even if implementing appropriate changes means a financial outlay by the
owners."
Publisher: Business Day
Source: Business Day
Investec turns around Lakeside Mall with the right tenant mix.
Posted On Wednesday, 20 August 2003 02:00 Published by eProperty News
ABOUT three years ago prospects for the Lakeside Mall in Benoni looked bleak, with a number of vacancies as confidence in the mall slumped.
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