Managing director Roger Perkin says this further boost for the Gauteng component of Martprop’s R2,6 billion portfolio follows September’s R65,5 million purchase of an industrial property in Pretoria, leased to Nampak Tissue and Biddulphs, and a Midrand commercial building occupied by Absa for R33 million. 

He says the three-year-old centre is strategically located between Fourways Crossing and Pineslopes Centre and enjoys substantial passing traffic on a busy arterial linking the Pineslopes/ Monte Casino hub and the Fourways Mall/Fourways Crossing hub.

The surrounding residential developments that have proliferated in recent years are geared towards the higher income brackets and are characterized by fairly high densities, both of which underpin the strong consumer base for which the tenants of the centre cater. Given the robust performance of retail property in recent years Perkin is confident that the centre will continue to perform strongly as it offers the products and services that the homeowner is looking for.

“The tenant mix reflects the comprehensive product options in the lifestyle and home improvement market.  The merchandise offering ranges from carpets and curtaining to lighting and beds from 11 retailers together with two popular destination restaurant tenants, most of whom are on five-year leases.”

The centre, with a lettable area of 10 800m² and ample parking, adjoins premises occupied by Tile Afrika and Music Mate.  Other neighbours are the Pineslopes Office and Retail Centre, Hirsch Home Store and Fourways Value Mart. Perkinnsays transfer is expected December.