SANDTON City is set for another image shake-up.
Management of the level housing the cinemas administered by Ster Kinekor, which had a head lease on the area has been wrested back by Liberty Properties, three years before its expiry date, because of concern about high vacancy levels, says Liberty Life Properties MD Jim McLean.
The level will be transformed into a 'specialised shopping experience'. The bulk of the space will be reconfigured into retail units, while the 11 cinemas will be upgraded. New escalators will run from the current lower shopping level just outside the entrance to the food court into the cinema foyer.
McLean says the remainder of the area will be refurbished to match the new standards of Sandton City, and specially focused retailers, and will be linked to the level above via new routes in the structure.
McLean says that the group has learnt from experience that if a specific area of a shopping centre is not functioning optimally, there is usually a reason, and simply filling vacant space with the first tenant that comes along is seldom an effective solution.
'As with the development of the Sandton City food court in the space previously occupied by John Orrs, we see the taking back of this area from Ster Kinekor as an opportunity to improve the offering Sandton City can give to its shoppers. To do this we will be selecting specific stores that enhance Sandton City,' he says.
Redevelopment is scheduled to begin next month.
Publisher: Business Day
Source: Business Day
Sandton City set for makeover
Posted On Wednesday, 16 January 2002 14:01 Published by eProperty News
SANDTON City is set for another image shake-up.
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