Mass retailer Snip Trading which operates 434 stores throughout South Africa, Swaziland, Lesotho, Namibia, and Botswana, has appointed Corporate Real Estate Services, a division of Old Mutual Properties, on a three-year contract to manage its leased property portfolio. 

The appointment encompasses all property related aspects from lease administration and rental payments to growing the business through new opportunities.

The Snip contract follows other appointments by retailers in the food, furniture and restaurant sectors, says Mark Ovens, of Corporate Real Estate Services.

He says CRES’ main responsibilities for Snip whose product range focuses on fast-moving footwear and household goods, will be sourcing of new sites, lease and rental administration .

“The contracts breaks new ground for Snip which traditionally has transacted directly with landlords and handled its own site selection.

“CRES has been set measurable annual targets by Snip for a reduction of rental liability and for store openings. This is in line with our role to provide advisory and strategic services for business space users that help them save time and money by analysing the market and proposing properties that meet growth requirements.”

Snip has its origins in a Kimberley discount shoe store which was opened in 1980 and grew into a 225-store chain by 1995. It diversified into a wider product offering in 1997 culminating in the Snip and Snip Express brands.

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ISSUED FOR Old Mutual Properties

BY Michael Kerkhoff & Associates

INQUIRIES Michael Schirnig 021-530-4561

                    Mark Ovens 011-217-1684

                    Mike Kerkhoff 021-424-5280