New Dunoon Shopping Centre Editorial in Weekend Argus
Category New Development
Annenberg Property Group is developing a R60 million shopping centre on Potsdam Road just off the N7 in the precinct known as The Stables opposite Dunoon.
The gross lettable area is 5 400m² of which 50 percent will be anchored by Shoprite. Space in the balance of the centre is almost fully let and tenants include other nationals such as Shoprite Liquors, The Fish and Chips Company and all four major banks.
“We have had a remarkable uptake from tenants that are keen to provide a formal offering to the Dunoon market,” says Andrew Jefferson of Annenberg Property Group. “We aim to have the centre fully tenanted before we break ground in the next couple of months.”
The centre is scheduled for completion at the end of this year.
Line shop sizes range from 50m² to 400m² and the centre has been designed to ensure that each tenant benefits from exposure either to Shoprite or to Potsdam Road. Rentals range from R100/m² to R250/m² depending on size and position in the centre.
The shopping centre is just one of the major upgrades in The Stables precinct. Notable improvements include the extension of the BRT red route, the major refurbishment and upgrading of Potsdam Road and the completion of Sandown Road linking the R27 West Coast Road and the N7. All the upgrades are to be completed this year before the centre’s opening date, says Jefferson.
“The Cape Town City Council has awarded the contract for the upgrading of the roadways to Martin and East Civils. The upgrade includes a rapid bus red road from Bayside Shopping Centre to directly in front of The Stables. Also included in these contracts are traffic lights to be installed at the intersection with Potsdam Road, the entrance to The Stables and Usasaza Road, which will facilitate easy access into the centre.
“The MyCiti Rapid Bus Depot was completed last year, and a new warehouse facility on an 18 000m² site for a national logistics chain supply company, Crossroads (Pty) Ltd, is due to be completed in the next four months.
“Only 35 000m² of industrial zoned land is still available in this precinct - either for sale at R1 000/m² or can be developed to suit tenant’s requirements,” says Jefferson.
“The Stables shopping centre will service about 80 000 residents of Dunoon, and will also provide a much needed shopping facility for the adjacent industrial areas of Killarney Gardens and Racing Park. In addition it will benefit from the large increase of road users expected on Sandown Road who are eager to escape the Blouberg Road traffic jams where this road joins the N7.
Call Andrew Jefferson on 082 789 4960 or 021 465 7780, or email thestables@annenberg.co.za
Author: Annenberg Property Group
