Mimosa Mall

Wholly acquired by Pareto in October 2008, Mimosa Mall is an upmarket shopping centre situated in the suburb of Brandwag on the outskirts of Bloemfontein’s CBD. It has 36,876m² of prime retail and office space - 34,566m² of retail space and 2,310m² of office space. Originally a strip shopping centre, it was upgraded and expanded through a second phase in 2000.

The centre has 102 retail outlets and anchor tenants include Woolworths, Game and Ster-Kinekor. In 2008, the centre boasted a tenant occupancy rate of 98.5% and an average monthly visitor count of 860,000. Turnover at the centre increased by 1.9% in the period July 2008-April 2009.

Mimosa Mall is Bloemfontein’s premier shopping centre, servicing the needs of many of the residents and visitors to the capital of the Free State province. It is an excellent addition to Pareto’s retail property portfolio and will make a meaningful contribution to the company’s ongoing income stream. 

 
Sandton City Shopping Centre & consortium of properties

Sandton City Shopping Centre is the jewel of the Pareto investment portfolio. Pareto has a 25% share (Liberty Life holds the remaining 75%) in the consortium which includes the shopping centre, its two office towers, the Sandton Sun hotel, the Sandton Intercontinental hotel, the Sandton Garden Court hotel, Sandton Game and the Sandton Convention Centre.

It comes as no surprise that the complex attracts 25 million visitors per annum. Since its first phase reached completion in 1973, the centre has undergone dramatic expansion and transformation. With a GLA of 110 566 m², it now covers 120 000m² of retail and 47 000m² of office space. Its prime location in Gauteng’s new CBD, Sandton has contributed to its popularity among local and foreign visitors, and the high number of retail centres in the surrounding suburbs has done nothing to diminish its popularity.

The owners of Sandton City recently approved and announced the repositioning of Sandton City Shopping Centre at an estimated cost of R1.7 billion. The centre has approximately 10 748m² of additional bulk rights available for further development activities. It is envisaged that the repositioning will include an increase of the bulk value, refurbishing the centre and realigning some tenants while providing additional space for some of the anchor tenants.

Sandton City will be expanded by a further 30 000m² and the new tenants will consist of high-end fashion retailers.

Cresta Shopping Centre

Cresta Shopping Centre is one of three shopping complexes wholly owned by Pareto. Situated on the bustling Beyers Naude Drive in upmarket northern Johannesburg, it has grown to become one of the premier shopping destinations in South Africa.

Eight refurbishments and extensions over the years have seen Cresta build and maintain its appeal to shoppers of all ages. With a GLA of approximately 94 000 m², the centre accommodates more than 50 fashion and shoe outlets, including various international brands. Some 38 restaurants and food outlets, a 10 screen cinema complex and Barnyard Theatre support the growing entertainment offering of the centre. Cresta’s diverse tenant mix includes a number of national retailers such as Pick ‘n Pay, Checkers, Woolworths, Edgars, Game and Stuttafords.

A 99% occupancy rate and constant demand for space reflect the popularity of the centre and affirm that it is a safe and enjoyable shopping destination.

Cresta’s innovative outdoor area was created on the northern frontage of the two upper levels affording eating and leisure establishments an elevated view of an outdoor amphitheatre.

Additional enclosed parking decks for customer convenience are planned between entrances 4 & 1. Furthermore construction of a new BMW dealership is has been completed on the northern frontage of the centre.

Southgate Mall and Southgate Value Market 

Southgate Mall – Pareto holds a majority 67% share in Southgate Mall, which first opened its doors to an eager public in 1990. Given its proximity to the Johannesburg CBD and Soweto, it quickly became a quality performer in the Pareto portfolio and the most cosmopolitan centre in South Africa.

The diversity of the community served by Southgate led to the introduction of exciting designer-label stores and the shopping public benefited from a new and improved food court. With a GLA of 69 750 m², Southgate Mall has successfully withstood the competition from nearby Jabulani Mall and Maponya Mall in Soweto.

Within the next five years an additional area of approximately 7 500m² could be developed, dependent on the tenant needs, and to improve the attractiveness of the centre. This idea is currently in conception stage and no detailed planning or feasibility studies have been performed.

Southgate Value Market (SVM) – The value market became part of the Pareto portfolio in 1997, when Pareto acquired a 65% share in the retail complex. Located opposite the successful Southgate Value Mall, it has enjoyed excellent growth, despite fierce competition in the area. A falling vacancy rate is a testament of the popularity of the centre.

The property consists of a U-shaped strip value centre and is set above road level, with a GLA of 19 254 m². A second level of retail space has been developed underneath this building, at the street level. The property features covered walkways and benefits from ample parking space in front of the entrance. SVM hosts 27 shops and is focused on food and furniture and is mostly occupied by big tenants such as Game, Virgin Active and Furniture City and support national and line stores that enhance the convenient offering of the Value Mart.

Since the opening of the SVM, no further extensions or refurbishments have been done. However, the traffic flow access and egress was reconfigured and vastly improved following its opening in 1997.

The Pavilion

1.58 million shoppers a month flock to the sprawling Pavilion, just off the N3 in KwaZulu Natal, for its unmatched variety of retail stores, food and entertainment outlets.

Wholly owned by Pareto since (June 2000), the complex first opened in 1993 and has since undergone regular refurbishment and expansion – including the addition of a fourth level and elegant sandstone re-finish throughout. Covering over 25 hectares, with a GLA of 115 323 m², the Pavilion employs over 4000 people and is home to 230 tenants, among them Pick ‘n Pay, Woolworths, Game, Stuttafords, Edgars and Checkers Hyper.

Under managing agents Motseng Property Services, hard work and dedication have created a unique, diverse and secure shopping experience. Demand for space has outstripped supply and has resulted in the extension of the Truworths store and an expansion project, called Phase 4, which has yielded another 4 512m² of rentable space. In 2007, a further 10 000m² was added under phase 5 of the expansion project.

The Pavilion Shopping Centre has additional bulk value of approximately 5 000m² and we are currently investigating the best use of this bulk.

Westgate Shopping Centre

Westgate is renowned as the shopping mecca of the West Rand, hosting over 16 million visitors every year. Part of its success is its positioning as a complete lifestyle experience. People don’t merely shop, they meet friends, conduct business and seek entertainment in the pleasing variety of attractions at the centre. The bustling complex houses a diverse tenant mix, including all the major retail chains.

Pareto has been a 56% shareholder since 1998 and together with its managing agents has overseen the regular refurbishment and improvement of the centre.

Westgate is located in the West Rand on Ontdekkers Road, the main arterial of the West Rand. The location is easily accessible for all West Rand consumers, including the major suburbs of Soweto.

Westgate may comfortably relay the message that it offers ‘the complete shopping experience’ with many of the notable national retailers under one roof. With a GLA of 106 270 m², Westgate contains 189 shops anchored by Checkers Hyper, Woolworths and Game. The tenant mix is made up largely of nationals such as Edgars, Ster Kinekor, Checkers Hyper and Foschini. A Pick ‘n Pay was also opened at the centre in May 2009.

Tyger Valley Shopping Centre

Nestled in the heart of the booming Tyger Valley business district, this 82 424m² shopping centre offers Capetonians a stylish and welcoming centre boasting over 283 retail outlets and a state-of-the-art entertainment arena, which regularly features live sporting events and shows. A banking mall, medical and dental facilities complete the centre’s offering, resulting in a truly one-stop destination that will leave visitors wanting for nothing.

Pareto boosted its shareholding in Tyger Valley by 15% in 2002 to a total of 57.5%. Its modern façade and elegant interior, which sprawls over 82 424m², is geared to accommodate large crowds and is highly accessible for pushchairs and disabled users. Since it opened in 1985, it proximity to the Cape Town CBD has ensured high visitor numbers. The extension of trading hours and undercover parking has also boosted trade at the centre. 

Demand for space is reflected in its 99.3% occupancy rate. Although stiff competition has come from the new Cape Gate Shopping Centre a mere 10km away, Tyger Valley’s growth in visitor numbers and increase in turnover are testaments to the enduring popularity of the centre.