Flanagan & Gerard Group and Moolman Group have signed an agreement with Emfuleni Resorts, a subsidiary of Sun International, to extend and upgrade the retail area at Boardwalk Casino and Entertainment World, in Port Elizabeth, in a R600-million redevelopment project.
The Boardwalk Mall development will more than double the retail space in the Boardwalk Precinct.
Work on the development will start in early 2020 and it will open in 2021.
The precinct currently comprises of the 6 000 m2 Boardwalk Casino, the five-star Boardwalk Hotel, conference facilities, 11 800 m2 of existing retail space and a five-screen Nu Metro cinema complex.
Building on this strength, the Boardwalk Precinct’s retail component will increase to 26 000 m2.
In addition, the project includes a substantial upgrade and reconfiguration that will amplify leisure and retail options by integrating more shops, restaurants, family fun and the spectacular new Sun Park Square, which has been designed to host major events.
With 17 ha of land available for the redevelopment, Boardwalk Mall is only the first phase, with plans to add even more variety in future, which could include additional hospitality, medical suites, big-box retail and a health club.
As part of the development, R11-million will be invested in upgrading surrounding roads. Second avenue will be widened into four lanes and it will include a new entrance into Boardwalk Mall, with another on Marine drive.
The Boardwalk Mall project will boost local employment and opportunities.
In keeping with the team’s commitment to economic development, local contractors and materials will be used wherever possible. The developers will work with a local community liaison officer to ensure optimal positive impact.
Sun International CEO Anthony Leeming says that, when the development is complete, the new and expanded mall will complement the Boardwalk’s other leisure offerings and further serve the needs of surrounding communities.
“We view the new mall to be an essential component of the broader Boardwalk Precinct, which was identified and earmarked by the Nelson Mandela Bay metro as an important growth node. We are confident that it will accelerate the metro’s economic growth, job creation and increased returns to the province,” he notes.
According to Flanagan & Gerard MD Paul Gerard, the development is a scarce, strategic and exciting development opportunity in the present South African retail real estate market.
“We are thrilled to be working with visionary partners of the calibre of Emfuleni Resorts and Moolman Group to create the magnificent Boardwalk Mall. Niched within Port Elizabeth’s vibrant retail landscape, Boardwalk Mall will be the ultimate convenience shopping experience.”
The mall will cater to an underserved immediate trade area of upscale neighbourhoods where there is good demand for convenience shopping.
The development has been a long time coming, and Moolman Group CEO Pieter Lombaard notes that, “for some time now, there has been a recognised need to reposition Boardwalk’s retail offering to meet the needs of its immediate consumer. Specialist research undertaken by Fernridge strongly supports this development.”
The planned Boardwalk Mall retail mix includes two supermarkets, one speciality food store, two pharmacies and two or more major banks.
A variety of restaurants, coffee shops and fast food options will be complemented by health and beauty, home and décor, cellular and electronics, gifting, sports and speciality shops. Everyday services and essential fashion will also feature.