The Vaal Mall, in Vanderbijlpark, will undergo a R450-million upgrade and expansion, during the course of 2014, expanding its footprint from 50 000 m2 to 70 000 m2.
The decision to expand the centre, which was co-owned by Sycom Property Fund and Flanagan & Gerard Property Development & Investment company Changing Tides, was underpinned by the mall’s strong financial performance, solid trading densities and foot count of nearly ten-million shoppers a year, growing by 6% year-on-year.
“The Vaal Mall has been a flagship in the Sycom portfolio. This expansion will ensure that it remains the preferred and most dominant shopping centre destination in the greater Vaal area,” Sycom Property Fund’s David Falck said in statement on Wednesday.
As part of the expansion, existing stores Game, Edgars, Woolworths, Truworths, Foschini, Dischem and Mr Price would see an increase in floor space, with a Ster-Kinekor cinema complex also being added.
Wakaberry and Cotton On would also make their debut in the centre and customers would, once the upgrade had been completed, enjoy the convenience of a mezzanine parking level as well as rooftop parking for direct access to the cinemas.
Flanagan & Gerard executive director Paul Gerhard stated that the demand for retail space within the mall was exceptional, with many national retailers jumping at the opportunity to expand.
“This enables us to be selective with new tenants and amplify the retail mix with shops that are an excellent match for Vaal Mall’s customers,” he said.
Construction on the mall was expected to start on February 1.