November 7, 2004

Inframax Investments have continued to grow the value of their property investments this year and the latest property in their portfolio to be upgraded is the 5 000m2 Lakeside Shopping Centre.

Here they have just completed the first phase of a refurbishment. Inframax bought the centre in April last year.
Inframax Investments executive director Colin Plit said that they have "re-configured" the ground floor tenancies to improve the tenant mix and used this opportunity to improve the building's appearance.

Most of the shopfronts were replaced, parts of the façade and walkway tiled, lighting has been improved and a complete repaint of the building was carried out.

The centre is anchored by Spar. New leases have been concluded with "nationals" Diamonds Discount Liquor, Vee's Video and Simply Asia, who offer Thai cuisine.

"Now", said Plit, "we can start planning phase two. This will involve the refurbishment of the first floor: the popular Lakeside Academy intends to extend its gymnasium, aerobics and martial arts facilities and we anticipate two restaurants moving in."

Plit said that the growth in Lakeside and Muizenberg has been rapid over the last few years and the centre can draw on an ever-expanding catchment area.