MARITZBURG's town and regional planning commission has approved a rezoning application for a new shopping centre to be built on the city's landmark old brickworks site.
The multimillion-rand shopping centre, to be called Chase Valley, is a joint project between Investec Property Group and RMB Properties.
The first phase of the centre will encompass 38000m². The developers have secured rights to develop up to 55000m² of lettable space.
RMB Properties MD Bryan Jackson expects the centre to boost retail spending in the city.
The centre will be expanded beyond the initial demand once demand warrants this, says Jackson.
Construction is expected to start soon, and the centre is scheduled to open its doors for trading towards the end of next year.
Jackson says Chase Valley will be like Umhlanga's Gateway for the town of Maritzburg, which currently has no major malls.
Investec Property Group MD Sam Leon says significant improvements to infrastructure will provide easy access to the city's central business district and N3 highway to Johannesburg and Durban.
The road improvements are part of the developers' proposal, which has been approved by the local authorities. The improvements include creating an additional offramp from the N3 highway, and widening a bridge and the street linking the city's central business district to the Chase Valley shopping centre.
Leon says the infrastructural improvements will enhance the development potential of the land between the central business district and Chase Valley.
Space in the first phase has been taken up mainly by popular national retailers such as Game, Woolworths, Pick 'n Pay, Truworths, Clicks, Avalon Cinemas, Mr Price and Boardmans.
Publisher: Business Day
Source: Business Day
New shopping mall for Maritzburg
Posted On Wednesday, 13 March 2002 03:01 Published by eProperty News
MARITZBURG's town and regional planning commission has approved a rezoning application for a new shopping centre to be built on the city's landmark old brickworks site.
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