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Mr Price Sport to open at La Lucia Mall

Posted On Tuesday, 22 May 2007 02:00 Published by
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Weeks after concluding the noteworthy deal with Everfresh Markets for a 1,500m2 shop in La Lucia Mall, leasing manager for Investec Property Group Craig Davis has also secured the tenancy of Mr Price Sport for La Lucia Mall in a substantial 2,000m2 store

Scheduled to open in November 2007, Mr Price Sport reports, “We are very excited about opening up our second store in KwaZulu Natal at La Lucia Mall”.

La Lucia Mall, managed by Investec Property Group and owned by Growthpoint Properties Limited, continues to report impressive trading statistics that have been instrumental in attracting these and other leading retailers to this community-centered retail mall, maximizing its offering to shoppers.

The number of shoppers visiting La Lucia Mall during the first quarter of 2007 was 11,5% higher than during the first quarter of 2006. During the same comparative periods turnover increase by a whopping 22,8%. Shopper spend-per-head has grown by 10.1% in the first quarter.

Growthpoint will be spending R32 million to upgrade and reconfigure La Lucia Mall’s 6,000m2 former Game premises for Mr Price Sport, Everfresh Markets, other retailers and 1,500m2 of retail or office space, ideally positioned in a vibrant and growing node.

The new Mr Price Sport will be located in the upper level, with its own dedicated entrance. It will also be served by an elevator and escalators from both La Lucia Mall’s undercover and the open parkades.

Mr Price Sport concept is aimed at making quality sporting goods affordable to all South African sportsmen, sportswomen and children. The company has been prepared for two years to launch the concept. Extensive research showed that there was a gap in the market for high quality sporting goods at low prices.

“Mr Price has been involved in sports sponsorship for many years working closely with leading sportsmen and sportswomen. They have long complained to us about the cost of sports equipment and have encouraged us to get into sporting goods to make it easier for people to participate in sport,” said Mr Price Group CEO Alastair McArthur.

“Given that there are over 35 schools in the North Durban area, shoppers are very excited about the forthcoming opening of Mr Price Sport at La Lucia Mall in November,” says La Lucia Mall’s general manager Vanessa Blevins.

Publisher: Investec Property Group
Source: Investec Property Group
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