JSE-listed commercial property company Growthpoint Properties has completed Phase 1 of the R75-million redevelopment of the Walmer Park Shopping Centre, in Gqeberha, in the Eastern Cape, with the overall project remaining on track for completion in November.
Growthpoint’s reinvestment in the high-performing South African retail asset aims to position Walmer Park as a top retail destination in Gqeberha.
“Walmer Park has consistently demonstrated the trading resilience and tenant demand that justify ongoing reinvestment. The additions to the centre’s retail mix made possible by this redevelopment will help ensure that it remains the dominant retail address in the city for years to come,” says Growthpoint Properties retail asset management head Gavin Jones.
Construction began in March with the relocation of fashion anchor tenant Edgars. The reconfigured store, more than 2 000 m2, opened in July.
The project also created a new mall area within the shopping centre, which provides an opportunity for brands to enter an otherwise fully let centre.
