South Africa set to refurbish CBD property to a mall

South Africa set to refurbish CBD property to a mall

South Africa is set to renovate the property on the corner of Pritchard and Joubert streets in the Johannesburg central business district (CBD), to a new mall as part of Inner-city renewal project being spearheaded by City of Johannesburg Mayor Herman Mashaba.

Edcon, SA Corporate Real Estate, announced the reports and said the mall be renovated by landlord SA Corporate Real Estate, and will include a renovated Edgars store and other retailers.

Also Read: Nigeria to invest US $110m in reconstruction of public buildings

‘Net generation store’ concept

Speaking at the announcement, Edgars CE Mike Elliot said that construction is expected to begin in March, and is slated for completion in April 2020. He added that the new Edgars store will follow the brand’s ‘net generation store’ concept, which is focused on enhanced visual merchandising with a revised layout, positions and fixtures.

Elliot extolled that this endeavor coincided with Edcon celebrating its ninetieth year in the country this year. Staff members will be accommodated at other Edcon stores during the renovation.The remainder of the space will be let to other tenants.

“No job losses will occur as a result of the store’s temporary closure and all affected Edgars employees will be accommodated at other Edcon stores for the duration of the construction,” said Mr. Elliot.

Additionally, Mayor Mashaba emphasized the need for retail developments of this nature in the CBD, to enhance growth and supplement affordable housing developments.

 

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