Following seven successful years of being a premier shopping destination of Vanderbijlpark and the Vaal Triangle, Vaal Mall will undergo a substantial 20,000sqm expansion in 2014.
Co-owned by Sycom Property Fund and Changing Tides, a Flanagan & Gerard Property Investment company, the R450 million project will see the centre expand from its present 50,000sqm to 70,000sqm. The anticipated start date is 1 February 2014, and the expansion will include upgrades to the existing mall, ensuring a consistent, fresh and modern look and feel throughout the centre.
David Falck of Sycom Property Fund explains: “Vaal Mall has been a flagship in the Sycom portfolio. This expansion will ensure that it remains the preferred and most dominant shopping centre destination in the greater Vaal area.”
Vaal Mall’s major retailers are growing with the centre. Game, Edgars, Woolworths, Truworths, Foschini, Dischem and Mr Price will see a sizeable increase in floor space, offering shoppers greater variety and choice.
Adding to the already diverse tenant mix at Vaal Mall, Ster-Kinekor will introduce a cinema complex, offering visitors a welcome entertainment option.
Vaal Mall remains a popular choice for shoppers and retailers alike, and demand for space has risen steadily since the mall’s opening in 2006.
Paul Gerard of Flanagan & Gerard Property Investment says: “The demand for retail space within Vaal Mall has been exceptional, with so many national retailers jumping at the chance to expand. This enables us to be selective with new tenants and amplify the retail mix with shops that are an excellent match for Vaal Mall’s customers.”
Vaal Mall’s expansion will also see Wakaberry and the Cotton On Group make their debut in the centre.
Besides greater shopping variety, customers will also enjoy the convenience of a mezzanine parking level as well as rooftop parking for direct access to the cinemas.
Vaal Mall’s strong financial performance, solid trading densities and footcount of nearly 10 million shoppers a year, growing by 6% year-on-year, underpinned the decision to expand the shopping centre.
Jacques Mizen of Acucap Management Services, general manager of Vaal Mall, says that feedback from the mall’s valued and loyal shoppers over the years also served as an indication that the time was right to expand. “There is no doubt we’re on the right track with the expansion and upgrade. It will offer bigger and better stores, a strong entertainment component consisting of cinemas and children’s entertainment, more variety to create an even better shopping experience, added upmarket fashion stores, a more comfortable shopping experience, plenty of covered parking and a few extra surprises.”