The embattled Brooklyn Mall in Pretoria has undergone significant changes over the past few months, with several major tenants, including Woolworths, upgrading their stores to attract customers.<\/p>\n\n\n\n
The mall has experienced increased vacancies over the last several years, but recent plans aim to turn its fortunes around. <\/p>\n\n\n\n
Woolworths, one of the biggest tenants at the mall in Pretoria East, has introduced an R50 million-plus upgrade at its store. <\/p>\n\n\n\n
The new Woolworths store features a brand-new WCellar and Woolworths Cafe, in addition to fresh fish, butchery, and bakery options. <\/p>\n\n\n\n
Several other homeware and furniture brands have also expanded their stores, including Yuppiechef, Volpes, Sterlings, Golden Goose, Mr Price Home, Cielo, and @Home. <\/p>\n\n\n\n
South African Furniture Retailer Incanda will also open a store in the centre on 15 November 2024, and the mall is also making space for new additions. <\/p>\n\n\n\n
The mall said it is actively adopting its tenant mix to better serve customers, with recent additions including Levi’s, Miekeraai, Steve Madden, and Birkenstock.<\/p>\n\n\n\n
“Through our conscious choices about what we believe, we are empowered to deliver consistent value to both our customers and our tenants by understanding our primary market and providing a shopping experience that speaks directly to our customers\u2019 desires,” it said.<\/p>\n\n\n\n
Major struggles for the mall<\/strong><\/p>\n\n\n\n The changes come amidst a struggling period for the mall, which is 75% owned by Growthpoint Properties, the largest South African real estate investment trust (REIT) listed on the JSE.<\/p>\n\n\n\n Growthpoint\u2019s recent results were troubling, with the REIT seeing its net asset value per share decline by 6.1% to 2,020 cents per share.<\/p>\n\n\n\n Brooklyn Mall was one of the REIT’s worst performers, increasing its vacancy rate from 3.6% in 2019 to 18.7% in 2024.<\/strong><\/p>\n\n\n\n The gross rent per square meter decreased from R306.87 in 2019 to R260.56 in 2024. <\/p>\n\n\n\n Growthpoint previously described Brooklyn Mall as a fantastic asset, stating that it was the \u201cpremier shopping destination in Pretoria\u201d.<\/p>\n\n\n\n The mall is close to 121 embassies, 55 schools, and 62,000 university students. <\/p>\n\n\n\n It is also found next to the affluent suburbs of Menlo Park, Lynnwood and Waterkloof.<\/p>\n\n\n\n The mall is also one of the largest shopping centres in the country, spanning 75,259 square meters with a 5.2 million average annual footfall and 220 stores. <\/p>\n\n\n\n That said, the mall has struggled to fill stores in recent years amid higher crime rates and an increasing number of homeless people begging for money inside and around the shopping centre. These issues ultimately gave the mall a poor image and chased shoppers away. <\/p>\n\n\n\n In addition, several competing shopping centres provide an attractive alternative to the mall, including the Castle Gate Shopping Centre in nearby Waterkloof Ridge. <\/p>\n\n\n\n The new competition was also recently added with the opening of the 24,000 sqm Castle Gate Lifestyle Centre in May 2024, which is across the road from the Castle Gate Shopping Centre. <\/p>\n\n\n\n