Claremont’s status as the dominant retail destination in Cape Town’s southern suburbs is set for a further boost through a R104 million refurbishment of The Link Shopping Centre by Old Mutual Property Group.

The project involves refurbishing the existing retail and mall areas in The Link to the standards of adjacent Cavendish Square, another Old Mutual property, and building two pedestrian bridges at first floor level to connect the two centres.  The Link, which is bounded by Main Road, Vineyard Road and Dreyer Street, will be renamed Cavendish Connect.

A R7 million upgrading of the Dreyer Street informal market between the two centres is also part of the project, says Ben Kodisang, managing director of the Old Mutual Property Group.  It is expected to be completed by September 2007.

Kodisang says the upgrading of Dreyer Street will contribute to the implementation of the Four Squares concept in which the four major urban spaces in the Claremont business district are linked via pedestrian friendly landscaped connections. One of these links is Dreyer Street.

“We hope the investment will lend further momentum to the growth of Claremont.  As the largest individual investor  in Claremont, with assets of more than R1 billion, Old Mutual has a keen interest in the impact of the public-private sector initiatives under way in the precinct.

“Already these initiatives and the efforts of the Claremont Improvement District Company have seen a reduction in office vacancies and an accompanying rise in rentals. “

Amelia Beattie, regional general manager of Old Mutual Property Group, expects Cavendish Connect, Cavendish Square and other retail facilities to benefit from the surge in residential property development.

“Indications are that another 2 000 people are coming to live in Claremont,“ she says. ”Three developments alone are adding another 450 apartments.  Overall, this influx is likely to add more than R70 million to annual retail spending in the precinct.

“Current buoyant levels of consumer spending are reflected in sales and visitor growth at Cavendish Square.  The spend per visitor is up by 10% on last year and monthly sales for the whole centre have risen by as much as 18%.”

Beattie says the aim in creating Cavendish Connect is a bigger and better retail environment and offering.

“We will be refurbishing the existing retail and mall areas in The Link to Cavendish retail standards. The work entails the comprehensive upgrade of the external fabric of the building and reshaping the internal circulation.

“The introduction of an activity spine in Dreyer Street via the location of café style shops on the ground and possibly first floor of Cavendish Connect is key to reshaping the offering in the centre. “

The work at Cavendish Connect will cover two phases, says Beattie.

“The first phase covers internal reorganisation to accommodate new tenants. The second involves construction of the pedestrian walkways and upgrading of Dreyer Street. “

The conversions at The Link, which was developed in 1977 and bought by Old Mutual in 2003 for R66 million, will be the first renovations there since 1993. Adjacent Cavendish Square, which was first opened in 1973, has undergone several expansions, the latest in 2003.

The Link has a rentable area of 12 963m², including 456m² offices, over three storeys. The major retail tenant is Edgars.

The professional team is:

Architects: Stauch Vorster Architects

Quantity surveyors: Bham Tayob Khan Matunda

Structural engineers: KFD Wilkinson

Mechanical engineers: Elshove and Pryce

Electrical engineers: Solution Station

Ends

ISSUED FOR  Old Mutual Property Group

BY  Michael Kerkhoff & Associates

INQUIRIES Ben Kodisang/Amelia Beattie 021-530-4500

                    Mike Kerkhoff 021-424-5280