By Xolisa Mgwatyu

Half the shops at East London’s newest shopping centre are yet to taken up – three months after the complex was opened.

Kings Mall in Gonubie, which cost developers R120m to build, boasts 44 shops and 337 lock-up storage units.

By Tuesday only 21 shops were open for business at the centre, a project of Edrei Investments.

The first store to open was the SuperSpar in March followed by Pep Stores in April.

Pep Stores manager Chairmaine Langhein said when they moved into the premises they were told that, by August, the mall would be 80 percent occupied.

“The mall is quiet and we are all wondering when the new tenants are coming in,” said Langhein.

Although construction was finished there was no sign of new tenants – despite a list of tenants supposed to occupy the premises.

SuperSpar owner Götz von Westernhagen said the retail sector had changed completely with interest rate hikes making it difficult for business owners to take the bold step to expand.

Von Westernhagen said tenants were paying R180 a square metre.

“The rental is related to the building costs and they are affordable – so it was not about the rental,” he said.

He added that, until the mall was fully occupied, tenants would pay 60 percent of the rental .

Centre manager Pierre Pretorius said he was still receiving calls from prospective tenants enquiring about space.

“Business people are interested in the mall as we receive many calls every day,” said Pretorius.

He said Clicks, Barons Select and Standard Bank were due to be opening soon and they were aiming to have all shops fully occupied by the end of August .

“The mall will be fully occupied by the official opening,” Pretorius assured the Dispatch.

Source: The Herald