Major redevelopment of Saveways Crescent Centre, Emalahleni underway
The residents of Emalahleni, ex Witbank are set to expect a welcomed upgrade to the existing Saveways Crescent Shopping Centre, a 51 000m2 shopping centre currently undergoing a major redevelopment which will transform both the internal and external facades of the building, optimising the tenant mix.
This redevelopment commenced in August 2017 and is scheduled to be completed in the last quarter of 2018
The centre is currently anchored by both Super Spar and Checkers. As part of the centres overhaul, both supermarkets will virtually double their footprint to almost 5 000m2 each.
This well-established centre is also well represented by all 4 national banks with ABSA and Standard Bank having training centres included in their branches.
Together with the four banks is a strong presence in shopping retailers by Pep; Ackermans; Identity; Liquor City; House & Home; The Hub; Clicks; Nandos, Waltons and various fast food franchises.
Saveways Crescent Shopping Centre has just been taken over by new landlords with consulting and advisory services provided by Coral International Asset Managers (Pty) Ltd represented by Mahomed Omar. Under the guidance of Coral International Asset Managers, a detailed economic and leasing strategy studies were undertaken which demonstrated the phenomenal value that may be shared within the Emalahleni district municipality. Accordingly the landlord has committed to an approximate spend of R250 million toward this exciting upgrade. The new changes to Saveways Crescent Shopping Centre includes revamped parking lots and paving, a new modern ceiling design, new and revamped walk-ways and entrances, innovative new shop and overall a completely new look and feel.
The lead architect appointed to manage this project is V-Arc. They are a Durban based practice with over 15 years of experience in the industry. According to Mahomed Vawda of V-Arc, “The current Centre consists of three distinct sections which have been in a stage of development and redevelopment over the last 20 years. This resulted in a rather disjointed, incoherent language running through the Centre. The landlords brief was to homogenise the existing development and prepare it for the next 20 years and beyond. We intend to introduce some modern vibrant colours, finishes and lighting to create a more positive feel, while the introduction of stone cladding around the key elements will keep the Centre linked to its roots.”
The head contractors appointed by the landlords are MDSA.
Coral have outsourced the professional teams of JKH Consulting to conduct the leasing strategy for the redevelopment, and have appointed The Myriad Group to do the leasing and re-tenanting of the centre.
“Our leasing efforts are going exceptionally well thus far and many of the nationals have indicated sincere interest in tenancy, and we’re really excited at what lies ahead for this centre” says Jonathan Tagg, head of leasing for The Myriad Group
“The centre was badly neglected for many years by the previous landlords”, Jonathan continues, “but we’re very enthusiastic that the landlord advised by Coral have seen the potential that this centre represents and have committed to the warranted refurbishment”.
Omar sees the centre by virtue of its configuration as a Value, Convenience and Lifestyle centre. “There is no reason that this should not be the go-to centre in Emalahleni – it is exceptionally well located (intersecting two main roads – corner Mandela Drive and O.R. Tambo Road), has great exposure, easy access with 5 road ingresses, as well as ample parking, which makes for easy and convenience one-stop shopping.”
Omar adds “We have also estimated the new tenancies to bring over 1 000 new employees to the centre, both permanent and casual, not to mention the temporary jobs being generated by the construction work ahead.”
Saveways Crescent Shopping Centre also has a substantial office environment, currently housing the following government institutions:
– Department of Land Reform (occupying approx. 1 500m2)
– Department of Mineral Resources (occupying approx. 3 200m2)
– SEDA (Small Enterprise Development Agency) offices
– GEMS (Government Employees Medical Scheme)
“We are also negotiating with The Chamber of Mines who will be securing space in the office node, and we are looking to accommodate additional office tenants in the 2 500m2 commercial component of the centre with secure parking.
Advanced negotiations are also underway with a large gym, a national cinema chain, an onsite satellite police station, as well as big name national brands to attract them to the new-look Saveways Crescent Shopping Centre. Exciting times lies ahead!”
For more information, contact Coral International Asset Managers on 031-274 7408.