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LIGHTHOUSE MALL IN UMHLANGA ROCKS SOLD THROUGH JHI & AUCTION ALLIANCE

A significant transaction for the sale of the Lighthouse Mall in Chartwell Drive, Umhlanga Rocks, has been concluded by Billy Latham, broker at JHI Properties in collaboration with Hein Hattingh, MD of Auction Alliance in KwaZulu-Natal for R88 million. 

With a strong tenant mix anchored by Checkers, the 8371sqm Lighthouse Mall is well situated in an upmarket, secure location in the old  Umhlanga town centre, a stone’s throw from the sought after Umhlanga Ridge precinct.

The property has been purchased by a private company represented by the Willemse family of Newcastle and the sale was concluded by private treaty through JHI, with the purchaser introduced by Auction Alliance.

Comments Rob Moran, KwaZulu-Natal regional director for JHI: “This is a sound investment acquisition, which signals continued investor interest and confidence in the old town centre of lower Umhlanga Rocks. Located in a well managed environment, the Lighthouse Mall includes other national tenants such as FNB, Nandos, CNA, Clicks, MTN and a Caltex garage, with popular local restaurant Butcher Boys and the well-patronised local pub The George and Dragon.  It is well positioned in a vibrant and safe precinct  popular among locals and tourists alike. Retailers are well supported by shoppers drawn from offices, businesses and upmarket residential suburbs in the area.

“The Umhlanga Town Centre enjoys a sound infrastructure, well managed by a pro-active Umhlanga Urban Improvement Precinct (UIP), which further enhances its appeal. The fact that the Umhlanga/La Lucia nodes now in effect form a key hub of the Durban metropolitan area, coupled with the opening of the new King Shaka International Airport, bodes extremely well for the continued success of the Lighthouse Mall,” says Moran.

The Umhlanga UIP was launched in 2009, tasked with turning around urban decay and improving safety within the precincts, while supporting the setting up of neighbouring managed areas. It comprises a managed area representing approximately R5 billion in property value and is already playing a major role in fulfilling the vision for Umhlanga as a premier lifestyle and investment destination.

As Brian Wright, project leader for the Umhlanga UIP points out, the precinct is revitalised. “We are focusing on getting the fundamentals right – safe, clean, green and welcoming, while simultaneously working towards securing improved revenue. In this way we aim to deliver a ‘high-road’ service plan for Umhlanga, positioning it as the destination of choice in KwaZulu-Natal.”

Working in partnership with the eThekwini Municipality, the UIP is investing substantial time and expertise in optimising service delivery to public open space. This is achieved through the integration of municipal and UIP services, while property owners and businesses are encouraged to visibly improve boundaries leading onto public open space.

Issued by Gaye de Villiers


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