N1 City Mall still growing market share

Posted On Wednesday, 17 November 2010 02:00 Published by
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N1 City Mall in Cape Town is growing its market share, this whilst the majority of South African shopping centres have reportedly been experiencing stagnant shopper numbers

N1 City reports shopper growth of a significant 5% more shoppers in the last twelve months compared to the previous year; demonstrating the growing popularity of the mall.

Opened 20 years ago, the mall has transformed from a relatively small shopping centre to its current fully-renovated, modern purpose-built offering of 64,000sqm. 

“As one of the most well established shopping centres in the Mother City’s northern suburbs, the mall’s growing footfall can be largely attributed to its prime location, excellent tenant mix, ample free parking and vibrant shopping environment,” says Tanya Heimann, of Broll Property Group at N1 City Mall.
Responsible for all leasing matters for N1 City Mall, leading property company Broll ensures that tenants’ space and position requirements are maximised. “With our understanding of tenants’ needs and challenges, we’re able to best optimise prospects for each retailer, which in turn serves to create the positive functioning of the centre as a whole,” says Heimann.

Jointly owned by Fountainhead Property Trust (58%) and Sycom Property Fund (42%), N1 City Mall lies in the heart of Cape Town’s northern suburbs, a short 12-minute-drive from Cape Town’s central business district.

Heimann believes that N1 City Mall, with its solid 20-year trading record, is a strong brand that represents a consistent shopping experience for Cape Townians, geared to meet shoppers’ needs. “This is an essential building block of shopper loyalty,” notes Heimann.

Not limited by a one-size-fits all approach, Broll’s retailer-centric ethos is based on one-on-one relationships, and according to Heimann this leads an approach that works. 

A significant 65% of N1 City Mall’s 150 tenants are national retailers, with the remaining 35% line shops which provide a unique differentiator to the centre. Anchor tenant Checkers Hyper trades from a massive 15,000sqm store.

Heimann is passionate about the excellent trading environment at N1 City Mall. “Our zero vacancy rate speaks volumes as does the waiting list for retailers keen on a place at the centre.”

A keen understanding of shopping patterns and behaviour helps Broll to advise smarter leasing strategies for retail centres. “For many, utilising the mall’s courts is an excellent way to drive visibility, promote and educate shoppers about a store’s offering and give a fast boost,” says Heimann.

She cites an example where a fashion retailer was advised to move its premium priced shoe line to a stand-alone shop. “This change alone has seen the shoe shop’s turnover quadrupled.”
 
N1 City Mall has an exciting pipeline of events and improvements to enhance its shopping experience. “In December, shoppers can look forward to the ‘Explore the City’ attraction, which takes place in the food court from Saturday, 11 to Thursday, 23 December.

N1 City Mall provides free, secure parking, with 2,573 parking bays, as well as a secure shopping environment where trained security staff and CCTV surveillance operate around the clock.

“Over the past 20 years N1 City Mall has grown and evolved to meet the needs of its loyal shoppers successfully, and it will continue to do so,” notes Heimann.


Publisher: eProp
Source: BPG

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