Big changes coming for South Africa’s biggest shopping mall

 ·22 May 2024

The new managers of South Africa’s biggest shopping mall, Fourways Mall, have announced a string of changes to ‘reshape’ the mall amid its strained trading environment.

Following an expansion that finished in September 2019, Fourways Mall became the largest mall in South Africa with a gross lettable area (GLA) of 178,202 sqm.

The expansion and enhancement is not finished, however, with more changes now coming.

Despite its scale and prime location, the mall has proven to be something of a financial headache for co-owners Accelerate Property Fund (APF), which looked to raise R200 million from its existing shareholders to pay off debt and reposition its finances, particularly in relation to Fourways Mall.

In the group’s latest financial results for the interim period ended 30 September 2023, the group said that vacancies at the mall increased from 14,349 sqm in March 2023 to 15,109 sqm in the reporting period. It reported that the overall vacancy (including Headlease) was 17.0%.

Accelerate Property Fund (APF) owns 50% of the mall.

The mall’s co-owners have now appointed Flanagan & Gerard as the strategic Asset Managers for Fourways Mall, accompanied by the oversight of Property Management by the Moolman Group, in a bid to turn things around.

This newly assembled management has announced several “targeted focus areas” for reshaping the mall, which will be carried out over the next six months to “revitalise” it.

The plan is to:

  • Enhance the mall’s infrastructure and services;
  • Implement improved signage for seamless navigation;
  • Introduce “vibrant” new tenants;
  • Deploy full backup power solutions;
  • Explore energy alternatives;
  • Enhance parking area lighting;
  • Upgrade security measures;
  • Optimise traffic flow;
  • Enlarging parking bays.

The managers said that the initial six-month strategy will lay the foundation for the overarching objective, of “re-establishing Fourways Mall as a top-tier shopping destination”.

“Our overriding objective is to re-establish the Fourways Mall brand as the top of mind, best shopping destination for those who reside in our primary and secondary trade area,” they said.

Read: New R370 million shopping mall coming to South AfricaRead:

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