PROPERTY loan stock company Growthpoint Properties says that the 40000m² Waterfall Mall in Rustenburg, bought for R284,6m, has been transferred with effect from April 1.

The company also bought a 3ha parcel of vacant land adjoining Waterfall Mall with existing rights for an additional 9500m² of retail use.

Growthpoint says it will extend the Waterfall Mall, creating 15000m² of space to accommodate national fashion tenants and incorporate a fastfood court.

The extension of Waterfall Mall is planned for completion, with new and upgraded stores trading, during the first quarter of next year.

Growthpoint Properties also plans to develop a new freestanding shopping centre of 5700m² on two levels.

This centre will be separate from Waterfall Mall but linked through integrated parking.