|Durban’s uShaka Village Walk, the retail component of the marine park, recently signed lease extensions worth R8,3m, pushing the occupancy of the shopping mall to 95%. The value of new leases over the next ten years amounts to R51,5 million. |
This is the first time the leases have been renewed since the marine park opened three years ago, according to uShaka Marine World’s (uShaka) chief operating officer, Bongani Xaba.
“Many of the tenants were due to renew at the end of the first three year lease period,” says Xaba, but 39 of the 45 lessees have re-signed for an additional three to five years. In fact, a number of the tenants such as Clothesline and Butik Asia have not only extended their leases but their premises as well. Piranha Surf doubled its space to include the Jeep, Billabong, Quicksilver and Roxy brands. Others, such as Wimpy have indicated the intent to expand within the next six months.”
New developments for the year ahead include the new beach activity centre offering deep-sea diving, surfing, kayaking, bicycle tours and team building options, which opened this month.