PnPay opens in CT CBD

Posted On Monday, 22 January 2001 14:01 Published by
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PICK 'n PAY has opened its first ever store in the Cape Town city centre.
PICK 'n PAY has opened its first ever store in the Cape Town city centre, providing a much needed contribution to the growth and development of the Cape Town CBD.

Speaking at a pre-opening function in the city last night, Sean Summers, CEO of Pick 'n Pay, said the group felt the time was right to open a store in the central city.

'This is the first store that we have opened in the CBD of Cape Town in our 35 year history,' said Summers. 'The position we chose is a prime trading area in the centre of Cape Town which already attracts a high volume of pedestrian traffic. In addition, the building in which the store is located also provides parking for hundreds of people working in the city.'

The Pick 'n Pay Family store is situated in the Picbel Parcade between Strand and Waterkant Streets, in the core of the Cape Town city centre.

'If the Pick 'n Pay Family store shows the kind of success we are anticipating, we will look to open others as soon as suitable trading space becomes available,' said Summers.

City of Cape Town Mayor, Gerald Morkel, welcomed Pick 'n Pay's investment in the CBD, saying that the central city had attracted R2-billion in new development just in the past twelve months, which was 33% up on targets established at the beginning of 2001.

'This means we have broken the R8-billion level in total new investment or development currently underway in our central city. And that means thousands of new jobs and robust economic growth for Cape Town,' he said.

Cape Town Partnership CEO, Michael Farr, said that it was clear that the efforts made to revitalise the central city were beginning to show dividends.

'The CBD is showing real signs of rejuvenation and moves by blue chip companies such as Pick 'n Pay to open stores and branches in the central city are proof of the impact that the Central City Improvement District has had on investment decisions.

'Retailers in general are beginning to realise they have, for the most part, underestimated the market in the Cape Town CBD after bad experiences in other city centres in South Africa. The trend in Cape Town has defied that of other city centres, due in part to the work of The Central City Improvement District in the areas of cleansing and safety.'

A recent survey, conducted by Market Decisions for the Cape Town Central City Improvement District amongst city-based workers, executives and shoppers in the CBD, revealed that the largest demand for retail is in groceries and upper-end clothing stores.

Those surveyed mentioned a desire for more grocery stores, particularly Pick 'n Pay, which respondents mentioned frequently by name.

With the opening of the Cape Town International Convention Centre scheduled for August 2003, and a host of other business developments happening in the CBD, the influx of people to Cape Town is set to increase dramatically in months to come. Pick 'n Pay intends playing its part in ensuring Cape Town continues to grow and showcase itself as a world class city to visitors and locals alike.

Publisher: Cape Business News
Source: Cape Business News

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