Its all systems go for Capital Mall – the R1.2 billion corner stone of the ‘Capital City’ mixed-use development.
The City of Tshwane has approved the rights for this majestic development which is set to revolutionise both the Pretoria West region as well as the McCormick Property portfolio.
The double level mall will anchor the mixed-use development within the node which also includes a 150 bed private hospital, a Value Centre, motor dealerships, affordable housing, schooling and community facilities.
The development of the Mall will be phased with the 60 000 sqm first phase set to open in 2020. It will be the biggest development to date for McCormick Property which has almost four decades of experience in property development. The Mall is one of 26 retail developments in the company’s development pipeline, all focused on areas with significant under supply of retail facilities to satisfy their rapidly expanding markets.
This year will also see ground being broken at the Mall of Tembisa – a phased development that has the potential to reach over 100 000 sqm. Situated just off Olifantsfontein Road, the first phase will consist of over 43 000 sqm of retail space and includes two proposed transport hubs, formalised schooling and high density residential units which will all contribute to this landmark mall.
MD of McCormick Property, Jason McCormick, is delighted to finally get Capital Mall to market. “We have seen the potential of this area for decades and know that this development will be a game- changer for the community of Pretoria West as well as the retailers that are included in this iconic development.”
Situated on the planned N4/R55 interchange, Capital Mall has direct access approved off both the N4 highway and WF Nkomo (Church) Street. The 25 hectare Mall will allow for the Mall to expand to over 100 000sqm in time, well aligned to the massive population growth within the region.