Ithala's onestop centres

Posted On Wednesday, 30 January 2002 03:01 Published by
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DURBAN Provincial development finance agency Ithala will expand its R231m portfolio of 15 one-stop shopping centres this year with two new multimillion-rand developments coming on stream in the heart of KwaZulu-Natal.
DURBAN Provincial development finance agency Ithala will expand its R231m portfolio of 15 one-stop shopping centres this year with two new multimillion-rand developments coming on stream in the heart of KwaZulu-Natal.

Property executive Jan van Niekerk says the organisation will inject R22,2m into building the two new centres in Howick and Nkandla, inland of Eshowe.

Ithala, which established its first one-stop shopping centre in KwaZulu-Natal 22 years ago, is opening an average of two centres a year in predominantly rural districts. The aim is to promote entrepreneurship, create jobs and bring shopping facilities closer to rural people, easing the outflow of wealth from these areas.

A one-stop centre offers a range of products and services including food, clothing, shoes, furniture and financial and medical services. The centres' floor areas vary between 3000m² and 15000m². They are all anchored by well-known supermarket chains. Other tenants include national and regional retail chain groups and local entrepreneurs.

Van Niekerk says 54% of the 576 established commercial tenants are black entrepreneurs operating in 153000m² of retail space scattered throughout KwaZulu-Natal.

The R13,6m Howick centre will bring on stream another 5000m² of retail space and be anchored by Shoprite Checkers. Van Niekerk envisages 20 shops in the centre, with six micro units integrated within the supermarket site, and parking provided for 200 vehicles. Construction begins in April, with trading scheduled to start early next year.

Inkanyezi Supermarket will anchor Nkandla's R8,6m development. The Nkandla centre, due to open in November, will include 22 shops, half of them micro shops of less than 25m² each. These outlets will include a dry cleaning depot, herbalists and a telephone shop.

Ithala has one-stop centres in Umlazi and KwaMashu in Durban, Madadeni near Newcastle, Sundumbili on the Tugela River banks, Ulundi, Nongoma, Eshowe, Tugela Ferry, Jozini, Harding, Mbazwana and Manguzi near the Mozambican border, and Estcourt.

Publisher: Business Day
Source: Business Day

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