The R110-million refurbishment of N1 City Mall – owned by Grayprop and Sycom – is almost complete and tenants are already experiencing increased shopping traffic and sales turnover said Arnold Meyer of Broll Property Group.

‘The 9 000m² expansion - bringing total lettable area to 63 000m² - positions N1 City as the third largest mall in the Western Cape.  Since opening in 1990 the Mall has created an extremely loyal customer base, with year-on-year footfalls higher than the rate of inflation – that means more and more new shoppers to the centre.’

The extension has enabled expansion to the existing tenant mix, bringing shoppers wider selection than ever before. In August the first Mr Price Sport will open – an all-encompassing store of keenly-priced sports gear and equipment.

It hasn’t always been retail sailing for N1 City. The opening in 2000 of the 125000m² Canal Walk behemoth, literally down the road, presented the Mall with a unique challenge. But, in spite of a short-lived downturn, N1 City has continued to prosper offering customers a unique single-level shopping experience.

‘Shopping centre management is an extremely dynamic discipline – part science, part art - requiring a hands-on style. It’s critical that management keep abreast of local shifts in demand and continue to provide the centre’s target market with an attractive and pleasurable shopping experience,’ says Meyer. ‘Clearly N1 City management are achieving that. With some serious retail competition on their doorstep, they have continued to build shopping traffic and at the same time ensure that the owners’ asset grows in value – a win:win for all.’

Broll has 112 shopping centres throughout southern Africa under management and has been responsible for N1 City Mall, on behalf of owners Allan Gray Property Trust and Sycom Property Trust, since 2000.

Ends.

For further information:
Arnold Meyer
Broll Property Group
Tel: 011 441 4000