AN R80-million shopping centre is to be built on the R44 freeway opposite the new Klein De Zalze Golf Estate between Stellenbosch and Somerset West. Marriott Property Services, which secured the site for the listed property fund Martprop for R11m has been appointed as consultants to the fund to develop the shopping centre, which will be known as Stellenbosch Square. It will have a gross lettable area of 10 500m2 and parking for 662 cars. Marriott has just begun with the marketing of the centre, which is scheduled to open for trade in August next year. Leon Quenet of Marriott reports that the leasing is progressing very well with 65% of the space having been let. "We have already secured a full line Woolworths of 2 800m2 and a Pick 'n Pay Family Store for 2 200m2 as the anchor tenants in the new shopping centre." Other tenants include Truworths, @ Home and various other upmarket retailers. "As part of the tenant mix we are having a restaurant node and wine emporium overlooking the winelands, golf course and mountains," said Quenet. "The design will be that of a Cape Vernacular Architecture style and it is the intention to have as many niche independent retailers as possible and not to develop just 'another' shopping centre. Stellenbosch Square will not be competing with Somerset Mall or the CBD of Stellenbosch but will merely be that of a niche convenience centre catering for the affluent shopper," he said. In addition to the shopping centre, Donfords is developing and relocating its BMW dealership to the Stellenbosch Square precinct. Shell will also be establishing a state-of-the-art service station. Marriott has also been appointed to market a new R25m, two-storey 4000m2 A-Grade office block to be developed next to the new shopping centre. For more information contact Marriott Property Services on 021 421 2121.
Publisher: Weekend Argus
Source: Weekend Argus
Upmarket: project 'for affluent shoppers' New R80m centre for Stellenbosch.
Posted On Monday, 01 September 2003 02:00 Published by eProperty News
AN R80-million shopping centre is to be built on the R44 freeway opposite the new Klein De Zalze Golf Estate between Stellenbosch and Somerset West.
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