Fountainhead upgrades core asset

Posted On Thursday, 14 May 2009 02:00 Published by eProp Commercial Property News
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Fountainhead Property Trusts refurbishment of Cape Towns Kenilworth Centre is well underway and is progressing according to plan. In excess of R100 million has been allocated to the upgrade, which started in September 2007 and is anticipated to be completed by September this year

Anton RaubenheimerAccording to Anton Raubenheimer, Fountainheads MD, the gross lettable area will increase from 43 000m to 48 000m.  The new Game store and food court, which opened late 2008, are both trading well.  The first half of this year will see the conversion of the Shoprite to a Checkers and a new Virgin Active will be opening its doors.

He adds that the appearance of the centre will be greatly improved with changes to the entrances and improvements to the faade, new flooring and lighting, upgrading ceilings, redoing of the toilet blocks and a revamped cinema foyer.

Raubenheimer says that the Kenilworth Centre is one of oldest regional centres in the country.It opened in 1973 and has undergone periodic upgrades and extensions

This project is in line with our on-going commitment to redeveloping our core assets, which contributes to optimising net rental growth.  We believe that the centre has been greatly enhanced with the new tenant offerings,which together with the physical improvements will increase foot count, says Raubenheimer.

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