A R1,2 billion commercial and residential development is being planned for a 600 ha site in Jeffrey’s Bay, a new business node of the Kouga region, by Buchner Propvest.

A 150 ha first phase, due to start later this year, will include a R150 million regional shopping centre to be developed by a joint venture involving  Amabubesi Investments and the Orange Property Group. The centre, with a lettable area of 15 000m², is proposed for a 10 ha site.

Developer Oswald Buchner says other first phase facilities will include an hotel, medical clinic, service station, offices, a value mart, a motor city and a retirement village among a variety of secure residential components.

He says two recent market surveys by shopping centre research specialists have identified a medium term need for an 80 000m² basket of commercial rights on what is known as The Fountains site, at the strategic crossing of the access road into Jeffreys Bay off the N2, and the Humansdorp road to Cape St Francis. He says that as early as 1985, the site was identified as a regional shopping node by the authorities for purposes of future planning

“The medium term need for 80 000m² of commercial rights is based on a conservative estimate of 5% growth for Jeffreys Bay, despite the actual historical annual growth rate being 10%,” he says.

“Over the last ten years, Jeffreys Bay has grown from a small, holiday destination to a large town, catering for the needs of the region between Port Elizabeth and Plettenberg Bay. Regular international surfing events have put it on the world map as a tourist destination. The annual growth of 10% is three times the normal urban growth rate.

“Jeffreys Bay benefits from natural growth as well as strategic growth stemming from a significant move back to the Cape by people who prefer the Garden Route to over-populated and over priced areas in Gauteng, KwaZulu Natal and the Western Cape.

“Jeffreys Bay has also become a preferred residential area, partly because of access to excellent schools. It can still offer good value for money, compared to property prices in Plettenberg Bay, George and Knysna and even though prices have escalated ahead of national growth rates.

“It also benefits from the unprecedented growth at nearby Sea Vista and Cape St Francis. Agricultural production is on the increase as the benefits of intensive land utilisation are becoming apparent. Its growth is constantly gaining momentum. Tourism will further benefit from the establishment of a game reserve nearby.”

Buchner says the current shopping experience in Jeffreys Bay is purely functional.

“Shops are exposed to the elements. People have to battle the traffic and struggle to get parking. Invariably the range of goods available offers restricted choices. As a consequence, a surprising number of people have to visit Port Elizabeth for regular shopping.

“The new development will solve these problems. It is easily reached from most areas of Jeffreys Bay, being served by four access routes; it will provide one-stop shopping and provide more than ample parking. “

He says the residential elements of the development will alleviate a shortage of residential land in Jeffreys Bay.

“The only practical expansion potential for Jeffreys Bay is over The Fountains land of 600ha. The first development phase will be followed in future by further phases which will include a planned heliport.”

Bulelani Ngcuka , executive chairman of Amabubesi Investments, says the retail development is the first of its size and kind in the area.

“We are thrilled to be associated with an initiative that would create a number of jobs in this area given the high levels of unemployment in the Eastern Cape. This is a huge capital injection and a vote of confidence in this booming area.”

The proposed one-stop destination will be the largest shopping centre development within a 65 km radius and is expected to revolutionise the shopping experience in Jeffrey’s Bay, offering residents and visitors a wide variety of shopping and entertainment facilities under one roof with ample parking. 

Provision is being made in the design for two anchor tenants along with a host of other facilities including restaurants and cinemas.

Leasing for the retail project is being undertaken by Broll.

Ends

ISSUED FOR Buchner Propvest/ Orange Property Group

BY Michael Kerkhoff & Associates

INQUIRIES Oswald Buchner 083-2660172

                    Liz Hart (Orange) 083-2275156