select
|

NEW R500 MILLION SHOPPING CENTRE FOR QUEENSTOWN

South African property development giant, Eris Property Group has announced that a R500 million regional shopping mall is to be developed on the N6 Cathcart Road opposite the rapidly emerging area of Komani Park in Queenstown, an economic hub in the Eastern Cape. Shareholders in Eris include Rand Merchant Bank, Royal Bafokeng Holdings and the Tiso Group who have recently announced their merger with Kagiso Holdings.

Phase 1 of the centre, to be known as “Q Mall” will extend to 33 000sqm and offer over 100 shops, including the latest style Checkers supermarket, while a brand new Edgars and Jet store will anchor the fashion offering. CTM will open with a new facility on the site bringing the world of DIY to the mix. Phase 2 will offer a further 8 000sqm of additional retail and entertainment facilities in future.

Rob Terry, development manager of the project, says that the site’s location between the venerable but overcrowded CBD and the major township of Ezebeleni means that it is ideally situated for all of Queenstown’s shoppers. Its frontage onto the newly upgraded N6 arterial route allows easy access for those using Queenstown as a base from surrounding areas and towns such as Cathcart, Dordrecht and numerous others. “No longer will people have to drive for two hours to East London for their major shopping. It will all be right here on their doorstep.”

The developers are busy finalising their arrangements with a host of other well-known retailers. “If you can think of a retail brand they are probably going to be in Q Mall,” says Ivan Pachonick, director: retail consulting for JHI property services group, which is leasing the project. “The outstanding response from the retail sector reaffirms the strong demand and that the timing is right for a modern, regional shopping facility in Queenstown,” he adds.
The new shopping centre is also located immediately opposite the proposed new 15 000sqm government and municipal office precinct at Komani Park, which together with surrounding proposals for 20ha of new affordable housing was recently put out to tender. Billy Forssman of Eris Property Group says that this is a clear indication of the importance of this area of Queenstown as the growth node for the town. “With a total of over R1 billion being spent here over the next two years we look forward to further developments to ease the pressure on the CBD. Queenstown’s centre is still largely as it was laid out in the 1800’s and times have changed. There are major difficulties associated with trying to access services as well as shopping there, from parking issues to congested and broken pavements and long walks between different shops. This new node will bring together all the goods, services and government departments in a single, clean, convenient and easily accessible location,” says Forssman.

Due to open for Christmas 2012, Q Mall is being designed by leading architects Boogertman and Partners in association with ADA Architects. Boogertman were the architects for the iconic new ‘Calabash’ design Johannesburg World Cup Stadium and recently completed the new Melrose Arch retail development in Johannesburg, as well as designing uShaka Marine World in Durban and several retail complexes around South Africa.

Issued by Gaye de Villiers


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
    • 16 Nov 2017
      The area has long been popular with kite surfers and, with escalating property prices in Cape Town itself, is increasingly in demand with home owners who work in town, but are looking to invest in more affordable properties.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK