Queensmead Release

Posted On Wednesday, 21 August 2002 02:00 Published by
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Convenience shopping thrives despite regionals

Convenience shopping thrives despite regionals

Queensmead Mall is a typical example of thriving retail conditions in many convenience shopping complexes despite the proliferation of regional centres in KwaZulu Natal.

Managed by JHI Real Estate, the 6568 square metre center has recently undergone a face lift and a number of national tenants are looking to upgrade and expand their premises.

Mr Price is expanding its premises and will be trading from 413 square metres from August. Similarly, Spar is looking to enlarge its shop-front to maximize its performance.

Other new line stores include a hardware of 619 square metres as part of an ongoing drive to ensure an optimal tenant mix, comments JHI Property Manager, Peter Tillard.

“Our portfolio of convenience centers is generally thriving”, says Tillard. “People are still supporting their local centers for every day shopping, while the regionals play more of a shoppertainment role”.

Tommy Osborne, regional director of JHI, says that this is in line with trend predictions in terms of the growth of the convenience shopping sector. “Its part of a world-wide drive towards convenience”, he says.

Osborne adds that this sector is also a focus for many investors, who are looking to identify centers that can be bought at market related prices and then turned-around through a tenant remix and prudent facilities management.

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