Edcon has announced that the property on the corner of Pritchard and Joubert streets in the Johannesburg central business district (CBD) will be renovated by landlord SA Corporate Real Estate, with the renovated building set to become a new mall that will include a renovated Edgars store and other retailers.
The announcement was made at a media briefing held at the current Edgars store on 55 Pritchard street, on Monday.
Construction is expected to begin in March, and is slated for completion in April 2020.
Speaking at the announcement, Edgars CE Mike Elliot said the company had informed staff members of the project, and is committed to ensuring job security. Staff members will be accommodated at other Edcon stores during the renovation.
The new Edgars store will follow the brand’s ‘net generation store’ concept, which is focused on enhanced visual merchandising with a revised layout, positions and fixtures.
It also entails a scaling down of the current store, with Edgars to occupy only the first floor of the building. The remainder of the space will be let to other tenants.
Elliot extolled that this endeavour coincided with Edcon celebrating its ninetieth year in the country this year.
The project also feeds into the inner-city renewal project being spearheaded by City of Johannesburg Mayor Herman Mashaba.
Speaking at the announcement, Mashaba emphasised the need for retail developments of this nature in the CBD, to enhance growth and supplement affordable housing developments.